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Boeing, Ruili Airlines Sign Deal for 787-9 Dreamliners
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The Boeing Co. (BA - Free Report) has received an order from Yunnan-based carrier Ruili Airlines at the 2016 Farnborough International Airshow for its 787-9 Dreamliners. The order comprises 6 787-9 Dreamliners, valued at $1.59 billion at current list price. The purchase is however subject to the Chinese government’s approval.
Ruili Airlines seeks to expand its fleet to 70 airplanes through 2025 from its current fleet of nine 737 airplanes. This airline, which was established in Feb 2014, operates on 16 domestic routes with 46 daily departures.
President and CEO of Boeing Commercial Airplanes, Ray Conner, believes the 787 may be a better fit for some expanding Chinese airlines rather than the larger 777 that has been bought by the country’s carriers in recent years.
Boeing’s 787 Dreamliner holds a distinguished position in the lucrative long-range passenger jet market. When it comes to innovation, efficiency, comfort as well as environmental awareness to create the ultimate flying experience, the Boeing 787 Dreamliner can be regarded as the most modern airplane in the world.
The 787 family continues to evolve with the 787-9 and 787-10 being the latest versions. The third and longest 787, the 787-10, is in development and set to deliver in 2018.
The 787-9, with its fuselage stretched by 20 feet (6 meters) over the 787-8, will fly an additional 280 nautical miles (520 kilometers). The airplane uses 20% less fuel than similarly sized aircraft. The cabin seats 290 passengers in typical two-class seating arrangements.
How is it Going for Boeing at the Farnborough International Airshow?
This aerospace major is riding on orders at the ongoing Farnborough International Airshow. Apart from the Ruili order, Boeing has received an order from EgyptAir for nine 737-800s, listed at $864 million. Air Europa and Boeing confirmed an order for 20 737 MAX 8s. Air Algerie signed a commitment for two 737-800BCFs. An unidentified customer ordered four 767BCFs. Bulgaria's Cargo Air and Colombia's Lineas Aereas Suramericanas Cargo ordered two 737-800BCFs each.
Apart from aircraft orders, Boeing also announced agreements to provide six customers with advanced analytics solutions that include Delta Air Lines (DAL - Free Report) , British Airways and All Nippon Airways among others.
Given the enormous commercial demand in the market, Boeing stands to witness significant traction, especially in the single-aisle market.
Boeing vs. Airbus
Though Boeing is picking up orders at the ongoing airshow, it's the European rival Airbus (EADSY - Free Report) who is in the lead. This came mainly on the back of an order of as many as 100 A321neo jets, valued at $12.6 billion at list prices, from AirAsia. Airbus is flying high at Farnborough having booked orders for 223 planes worth $28.3 billion at Tuesday’s end. In contrast, Boeing received only 121 orders, valued at $13.7 billion, as of Tuesday, excluding a pre-announced 747 deal.
Boeing versus Airbus is one of the most hard-fought, closely watched marketing battles in the commercial aerospace market. Airbus’ AirAsia order may prove to be a knockout blow for Boeing at the year’s major airshow.
Zacks Rank
Boeing currently has a Zacks Rank #3 (Hold). A better-ranked stock in the same space is Northrop Grumman Corp. (NOC - Free Report) , carrying a Zacks Rank #2 (Buy).
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Boeing, Ruili Airlines Sign Deal for 787-9 Dreamliners
The Boeing Co. (BA - Free Report) has received an order from Yunnan-based carrier Ruili Airlines at the 2016 Farnborough International Airshow for its 787-9 Dreamliners. The order comprises 6 787-9 Dreamliners, valued at $1.59 billion at current list price. The purchase is however subject to the Chinese government’s approval.
BOEING CO Price
BOEING CO Price | BOEING CO Quote
Ruili Airlines seeks to expand its fleet to 70 airplanes through 2025 from its current fleet of nine 737 airplanes. This airline, which was established in Feb 2014, operates on 16 domestic routes with 46 daily departures.
President and CEO of Boeing Commercial Airplanes, Ray Conner, believes the 787 may be a better fit for some expanding Chinese airlines rather than the larger 777 that has been bought by the country’s carriers in recent years.
Boeing’s 787 Dreamliner holds a distinguished position in the lucrative long-range passenger jet market. When it comes to innovation, efficiency, comfort as well as environmental awareness to create the ultimate flying experience, the Boeing 787 Dreamliner can be regarded as the most modern airplane in the world.
The 787 family continues to evolve with the 787-9 and 787-10 being the latest versions. The third and longest 787, the 787-10, is in development and set to deliver in 2018.
The 787-9, with its fuselage stretched by 20 feet (6 meters) over the 787-8, will fly an additional 280 nautical miles (520 kilometers). The airplane uses 20% less fuel than similarly sized aircraft. The cabin seats 290 passengers in typical two-class seating arrangements.
How is it Going for Boeing at the Farnborough International Airshow?
This aerospace major is riding on orders at the ongoing Farnborough International Airshow. Apart from the Ruili order, Boeing has received an order from EgyptAir for nine 737-800s, listed at $864 million. Air Europa and Boeing confirmed an order for 20 737 MAX 8s. Air Algerie signed a commitment for two 737-800BCFs. An unidentified customer ordered four 767BCFs. Bulgaria's Cargo Air and Colombia's Lineas Aereas Suramericanas Cargo ordered two 737-800BCFs each.
Apart from aircraft orders, Boeing also announced agreements to provide six customers with advanced analytics solutions that include Delta Air Lines (DAL - Free Report) , British Airways and All Nippon Airways among others.
Given the enormous commercial demand in the market, Boeing stands to witness significant traction, especially in the single-aisle market.
Boeing vs. Airbus
Though Boeing is picking up orders at the ongoing airshow, it's the European rival Airbus (EADSY - Free Report) who is in the lead. This came mainly on the back of an order of as many as 100 A321neo jets, valued at $12.6 billion at list prices, from AirAsia. Airbus is flying high at Farnborough having booked orders for 223 planes worth $28.3 billion at Tuesday’s end. In contrast, Boeing received only 121 orders, valued at $13.7 billion, as of Tuesday, excluding a pre-announced 747 deal.
Boeing versus Airbus is one of the most hard-fought, closely watched marketing battles in the commercial aerospace market. Airbus’ AirAsia order may prove to be a knockout blow for Boeing at the year’s major airshow.
Zacks Rank
Boeing currently has a Zacks Rank #3 (Hold). A better-ranked stock in the same space is Northrop Grumman Corp. (NOC - Free Report) , carrying a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>