Boeing scores a $14.5 billion order from UAE airline Etihad, adding to its massive backlog
The White House on Thursday announced another multibillion-dollar deal between Boeing and a foreign airline — the third this month.
This order, $14.5 billion from UAE-owned airline Etihad Airways, will cover 28 American-made Boeing 787 and 777X aircraft.
Earlier this week, Boeing received its “largest ever” wide body order: $96 billion from Qatar Airways for up to 210 planes. A few days before that, it signed a $13 billion deal with European airline owner IAG for 32 planes.
The deals have boosted Boeing’s stock: it’s up about 5% this week and more than 50% from early April lows.
Still, as Bloomberg’s Thomas Black points out, Boeing’s issue in recent years has been filling orders, not getting them. The company has a backlog of 5,643 planes it has yet to build for customers. Filling those would take Boeing about 16 years at last year’s delivery rate, though it’s speeding up production so far this year.
Earlier this week, Boeing received its “largest ever” wide body order: $96 billion from Qatar Airways for up to 210 planes. A few days before that, it signed a $13 billion deal with European airline owner IAG for 32 planes.
The deals have boosted Boeing’s stock: it’s up about 5% this week and more than 50% from early April lows.
Still, as Bloomberg’s Thomas Black points out, Boeing’s issue in recent years has been filling orders, not getting them. The company has a backlog of 5,643 planes it has yet to build for customers. Filling those would take Boeing about 16 years at last year’s delivery rate, though it’s speeding up production so far this year.
