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Boeing (BA) Clinches Significant Orders at Paris Air Show
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The Boeing Company (BA - Free Report) inks major order deals at the most prestigious aerospace event, Paris Air Show, with various airline companies worldwide. Boeing utilizes the platform to boost its order book, build on customer relationships and reaffirm its competitiveness in the industry.
Jet Orders for Boeing at the Paris Air Show
Amid significant purchase agreements, the key order was from Boeing’s longstanding client, Air India, which confirmed to invest in 290 new Boeing jets, thus marking the biggest order from South Asia for Boeing.
In the report from SP’s airbuz, domestic and international traffic in India is likely to be in the range of 130-140 million and 55-60 million in 2023, per the Centre for Asia Pacific Aviation India estimates. The abounding growth prospects indicate that Boeing may witness lucrative deals from the region in the days ahead.
The aerospace giant also secured an order from Avolon for 40 737 MAX airplanes. Meanwhile, Air Algérie confirmed to purchase BA’s eight 737-9 jets and two 737-800 Boeing Converted Freighters.
Orders Thrive
The robust order inflow for Boeing’s commercial jets at the Pars Air Show bears testimony to the rebound in the travel industry after COVID-19 induced a demand decline. Per the latest report from the International Air Transport Association, domestic traffic returned to pre-pandemic levels, recording growth of 42.6% in April compared to a 2.9% increase in April 2019. Meanwhile, International traffic scaled up 48.0% compared to the April 2022 levels, with all markets contributing to the overall recovery.
With much room for growth, the aviation market holds opportunities for aircraft manufacturers like Boeing. In its Commercial Market Outlook 2023–2042, Boeing projected that the global fleet growth is likely to double-fold to reach more than 48,500 jets by 2042. This equates to growing 3.5% per year, signifying ample growth potential for aerospace forerunners in the industry.
Peers in the Spotlight at the Paris Air Show
The Paris Air Show provides a platform for aircraft manufacturers to engage in strategic deals with potential customers. Other renowned jet manufacturers that secured lucrative deals at the show are as follows:
Airbus (EADSY - Free Report) : It inked a major order to supply 500 of its A320 family aircraft at the Paris Air Show 2023 to Indigo, thereby marking the biggest order in the commercial aviation history. The long-term (three to five years) earnings growth rate of Airbus is 12.4%. Shares of EADSY have soared 47.2% in the past year.
Embraer (ERJ - Free Report) : The company grabbed an order from Binter for six E195-E2 jets at the Paris Air Show. Meanwhile, American Airlines booked seven Embraer E175.
Embraer’s long-term earnings growth rate is 17%. ERJ shares witnessed growth of a solid 75.2% in the past year.
Price Performance
Shares of Boeing have rallied 54.8% in the past year compared with the industry’s growth of 3.6%.
The Zacks Consensus Estimate for Spire’s 2023 sales suggests a growth rate of 32.9% from the prior-year reported figure. The Zacks Consensus Estimate for Spire’s 2024 sales calls for a growth rate of 34.3% from the prior-year estimated figure.
SPIR reported an earnings surprise of 16.67% in the last reported quarter. The four-quarter average earnings surprise for the company is 10.37%.
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Boeing (BA) Clinches Significant Orders at Paris Air Show
The Boeing Company (BA - Free Report) inks major order deals at the most prestigious aerospace event, Paris Air Show, with various airline companies worldwide. Boeing utilizes the platform to boost its order book, build on customer relationships and reaffirm its competitiveness in the industry.
Jet Orders for Boeing at the Paris Air Show
Amid significant purchase agreements, the key order was from Boeing’s longstanding client, Air India, which confirmed to invest in 290 new Boeing jets, thus marking the biggest order from South Asia for Boeing.
In the report from SP’s airbuz, domestic and international traffic in India is likely to be in the range of 130-140 million and 55-60 million in 2023, per the Centre for Asia Pacific Aviation India estimates. The abounding growth prospects indicate that Boeing may witness lucrative deals from the region in the days ahead.
The aerospace giant also secured an order from Avolon for 40 737 MAX airplanes. Meanwhile, Air Algérie confirmed to purchase BA’s eight 737-9 jets and two 737-800 Boeing Converted Freighters.
Orders Thrive
The robust order inflow for Boeing’s commercial jets at the Pars Air Show bears testimony to the rebound in the travel industry after COVID-19 induced a demand decline. Per the latest report from the International Air Transport Association, domestic traffic returned to pre-pandemic levels, recording growth of 42.6% in April compared to a 2.9% increase in April 2019. Meanwhile, International traffic scaled up 48.0% compared to the April 2022 levels, with all markets contributing to the overall recovery.
With much room for growth, the aviation market holds opportunities for aircraft manufacturers like Boeing. In its Commercial Market Outlook 2023–2042, Boeing projected that the global fleet growth is likely to double-fold to reach more than 48,500 jets by 2042. This equates to growing 3.5% per year, signifying ample growth potential for aerospace forerunners in the industry.
Peers in the Spotlight at the Paris Air Show
The Paris Air Show provides a platform for aircraft manufacturers to engage in strategic deals with potential customers. Other renowned jet manufacturers that secured lucrative deals at the show are as follows:
Airbus (EADSY - Free Report) : It inked a major order to supply 500 of its A320 family aircraft at the Paris Air Show 2023 to Indigo, thereby marking the biggest order in the commercial aviation history. The long-term (three to five years) earnings growth rate of Airbus is 12.4%. Shares of EADSY have soared 47.2% in the past year.
Embraer (ERJ - Free Report) : The company grabbed an order from Binter for six E195-E2 jets at the Paris Air Show. Meanwhile, American Airlines booked seven Embraer E175.
Embraer’s long-term earnings growth rate is 17%. ERJ shares witnessed growth of a solid 75.2% in the past year.
Price Performance
Shares of Boeing have rallied 54.8% in the past year compared with the industry’s growth of 3.6%.
Image Source: Zacks Investment Research
Zacks Rank
Boeing carries a Zacks Rank #3 (Hold). One better-ranked stock in the same industry is Spire (SPIR - Free Report) , carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Spire’s 2023 sales suggests a growth rate of 32.9% from the prior-year reported figure. The Zacks Consensus Estimate for Spire’s 2024 sales calls for a growth rate of 34.3% from the prior-year estimated figure.
SPIR reported an earnings surprise of 16.67% in the last reported quarter. The four-quarter average earnings surprise for the company is 10.37%.