The 737 MAX readies to soar again
Renowned company Boeing, has been thriving in the aircraft manufacturing business for a long time. Under the ticker symbol NYSE:BA, it went public on Jan 13, 1978.
Boeing’s 737 aircraft gained spotlight as a successful narrow-bodied model used for short-haul flights. Its 4th generation, Boeing’s 737 MAX, was first announced in 2011 and it began providing services from 2017 onwards.
The planes have been grounded since March, 2019 onwards following two tragic crashes.
However, Boing is confident that they will be back on track as they recently revealed their hidden deal to supply 200 of the 737 MAX to International Airlines Group (IAG), which is the sixth-largest airline group in the world, at the Paris Air Show. According to list prices, the order would be valued at more than $24 billion. This will make a positive impact on the company itself in the future. And upon the revelation of the news, Boeing stock rose more than 5%.
The said deal involves supplying the 737 MAX to various carrier airlines such as British Airways, Iberia, Vueling, Aer Lingus, and Level.
Aviation expert John Strickland from JLS Consulting said, “I don’t think anyone expected a big order from IAG. It’s a big confidence boost to Boeing at a time when they are under considerable scrutiny and pressure.”
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