The company expects airlines to purchase 42,595 jets from now until 2042, thereby exceeding its previous 20-year forecast of 41,170 planes last year. This is still lower than the company’s projection of 43,610 jets in 2021 when Russian aircraft demand was included.

According to Boeing’s estimates, 32,420 of its narrowbody jets are expected to be sold through 2042, with the company predicting its 737 MAX to be particularly successful. In addition, the company expects to deliver 7,440 widebody planes, 1,810 regional jets, and 925 freighters.

Darren Hulst, Boeing’s vice president of commercial marketing, believes that demand will be driven by low-cost carriers looking to expand their fleet sizes.

“The end of the recovery has played out largely as we’ve expected, with a few different nuances and dynamics,” Hulst explained of the company’s performance during the post-pandemic travel industry boom. “I think we’ll again see how resilient the demand for air cargo is because it’s consistently around 3.5% to 4% growth,” he continued, airing his belief that air cargo demand will rise again following its ongoing growth hiatus.

The post Boeing Boosts Annual Outlook Amid Rising Demand appeared first on theprimarymarket.com.

According to Boeing, the problem is related to two fittings in aft fuselages for which Spirit AeroSystems used “non-standard” manufacturing procedures. The issue affects the 737 MAX units in production and in storage as well as some airliners already in use. However, the company notes that the latter can continue operating without any safety risks.

Boeing predicts that taking care of the issues will delay the production and delivery of new 737 MAX jetliners in the near future. The company delivered 111 737 MAXs in the first quarter and was hoping to deliver a total of 400 by the end of the year.

“We expect lower near-term 737 MAX deliveries while this required work is completed. We regret the impact that this issue will have on affected customers and are in contact with them concerning their delivery schedule,” Boeing said in a statement.

Boeing’s stock closed at $213.59 on Thursday before sliding to $203.97 per share in after-hours trading. The company’s shares have been almost 10 percent up year-to-date prior to the dip.

The post Boeing Stock Plunges Amid 737 MAX Production Issues appeared first on theprimarymarket.com.

According to Reuters, the price of the initial order is valued at around $37 billion. This would make it the fifth most-valued commercial order in history.

Saudi Arabian Airlines, now known as Saudia, is a state-owned airline that has been in business since 1945. According to available data, it currently has 151 planes in its fleet and travels to 101 destinations.

Riyadh Air, on the other hand, is the newly-formed airline and will be owned by Public Investment Fund, the country’s sovereign wealth fund. PIF has been diversifying its portfolio in recent years, establishing golf competition LIV, investing in electric vehicle company Lucid and buying Premier League club Newcastle United.

Riyadh Air intends to expand its business to serve more than 100 destinations by the end of the decade. The company nabbed Tony Douglas, former chief executive officer of Etihad Airways, as its CEO.

“This order for us today [from Boeing] is the kind of first major milestone that shows to everybody the scale of ambition that we’ve got,” Douglas told Yahoo Finance.

After the deal was announced, Boeing shares jumped almost two percent and closed at $207.28 per share on Tuesday. This represents a more than six percent jump in value year-to-date. 

The post Boeing Secures an Order for 78 Airplanes from Two Saudi Arabia Airlines appeared first on theprimarymarket.com.

The company expects airlines to purchase 42,595 jets from now until 2042, thereby exceeding its previous 20-year forecast of 41,170 planes last year. This is still lower than the company’s projection of 43,610 jets in 2021 when Russian aircraft demand was included.

According to Boeing’s estimates, 32,420 of its narrowbody jets are expected to be sold through 2042, with the company predicting its 737 MAX to be particularly successful. In addition, the company expects to deliver 7,440 widebody planes, 1,810 regional jets, and 925 freighters.

Darren Hulst, Boeing’s vice president of commercial marketing, believes that demand will be driven by low-cost carriers looking to expand their fleet sizes.

“The end of the recovery has played out largely as we’ve expected, with a few different nuances and dynamics,” Hulst explained of the company’s performance during the post-pandemic travel industry boom. “I think we’ll again see how resilient the demand for air cargo is because it’s consistently around 3.5% to 4% growth,” he continued, airing his belief that air cargo demand will rise again following its ongoing growth hiatus.

The post Boeing Boosts Annual Outlook Amid Rising Demand appeared first on theprimarymarket.com.

According to Boeing, the problem is related to two fittings in aft fuselages for which Spirit AeroSystems used “non-standard” manufacturing procedures. The issue affects the 737 MAX units in production and in storage as well as some airliners already in use. However, the company notes that the latter can continue operating without any safety risks.

Boeing predicts that taking care of the issues will delay the production and delivery of new 737 MAX jetliners in the near future. The company delivered 111 737 MAXs in the first quarter and was hoping to deliver a total of 400 by the end of the year.

“We expect lower near-term 737 MAX deliveries while this required work is completed. We regret the impact that this issue will have on affected customers and are in contact with them concerning their delivery schedule,” Boeing said in a statement.

Boeing’s stock closed at $213.59 on Thursday before sliding to $203.97 per share in after-hours trading. The company’s shares have been almost 10 percent up year-to-date prior to the dip.

The post Boeing Stock Plunges Amid 737 MAX Production Issues appeared first on theprimarymarket.com.

According to Reuters, the price of the initial order is valued at around $37 billion. This would make it the fifth most-valued commercial order in history.

Saudi Arabian Airlines, now known as Saudia, is a state-owned airline that has been in business since 1945. According to available data, it currently has 151 planes in its fleet and travels to 101 destinations.

Riyadh Air, on the other hand, is the newly-formed airline and will be owned by Public Investment Fund, the country’s sovereign wealth fund. PIF has been diversifying its portfolio in recent years, establishing golf competition LIV, investing in electric vehicle company Lucid and buying Premier League club Newcastle United.

Riyadh Air intends to expand its business to serve more than 100 destinations by the end of the decade. The company nabbed Tony Douglas, former chief executive officer of Etihad Airways, as its CEO.

“This order for us today [from Boeing] is the kind of first major milestone that shows to everybody the scale of ambition that we’ve got,” Douglas told Yahoo Finance.

After the deal was announced, Boeing shares jumped almost two percent and closed at $207.28 per share on Tuesday. This represents a more than six percent jump in value year-to-date. 

The post Boeing Secures an Order for 78 Airplanes from Two Saudi Arabia Airlines appeared first on theprimarymarket.com.