Boeing (NYSE:BA) stock is rising higher on Monday after the company announced a $52 billion agreement with Emirates Airlines for its jets.
The big news here is Emirates Airlines placing an order for 100 777-X widebody jets that are worth $52 billion for the aircraft manufacturer. That order was made during the Dubai Airshow over the weekend.
To go along with this, Emirates Airlines is also planning to acquire another five 787 Dreamliner jets from Boeing. Additionally, FlyDubai placed an order for 30 of the 787 Dreamliners, and SunExpress ordered 45 of the 737 Max.
Stan Deal, Commercial president of Boeing, said the following about the order in a statement to TheStreet:
“[The Emirates order] is an incredible vote of confidence in Boeing’s highly efficient widebody family and the versatility of our 777X and 787 airplanes to meet Emirates’ needs for global long-haul travel. The 777-9 and 777-8 are the perfect airplanes to support Emirates’ growth, improving environmental performance and unmatched payload capability along the way.”
BA Stock Reactions on Monday
The positive news of new orders for its aircraft has BA stock seeing heavy trading on Monday. As of this writing, more than 5.1 million shares of the stock have changed hands. That’s already well above its daily average trading volume of about 5 million shares.
BA stock is up 3.7% as of Monday morning.
Investors looking for more of the latest stock market stories today will want to keep reading!
We’re covering all of the hottest stock market news that traders need to know about on Monday! A few examples of that include what’s happening with shares of Archer Aviation (NYSE:ACHR), Joby Aviation (NYSE:JOBY) and Robinhood Markets (NASDAQ:HOOD) stock today. All of that info is ready to go at the links below!
More Stock Market News for Monday
- ACHR Stock Alert: Archer Preps to Sell $70 Million Worth of Shares
- JOBY Stock Alert: Joby Aviation Scores New Tax Credit for Ohio Factory
- Google Is Giving Up on Robinhood (HOOD) Stock
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
