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Boeing (BA) Wins Turkish Airlines' Four 777 Freighters Order
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TheBoeing Company (BA - Free Report) has received an order for four 777 Freighters from Turkish Airlines. The company already has eight 777 Freighters in its kitty and new additions will further strengthen the airlines' position in the global air cargo market.
The high quality of Boeing’s 777 Freighters has prompted Turkish Airlines to repeat the orders and execute its plan of expansion of cargo operations.
What’s so Special About 777 Freighters
The Boeing 777 Freighter was launched in 2009 and is a very capable wide-body twin-engine freighter with a maximum payload capacity of 112 tons (102 metric tons) and a range of 4,970 nautical miles (9,200 km).
Due to its capabilities, this freighter from Boeing is responsible for carrying 20% of global air freight. BA has delivered more than 250 of the 777 Freighters to 36 plus customers across the globe.
Due to the success of 777 Freighters, Boeing is planning to develop an upgraded version, namely, 777-8 Freighter, which will be built on the benefits of the previous version.
Freight Market to Expand
Per a Motor Intelligence report, the Freight Forwarding Market size is expected to be $176.2 billion in 2024 and reach $215.1 billion in 2029. Undoubtedly, the freighters will play a crucial role in the swift movement across the globe.
Boeing forecasts the global freighter fleet to reach 3,435 airplanes by 2040 and its 777-8 Freighter can grab a major share of the rising demand attributed to its 30% lower fuel usage and emission from the similar kind of freighters. These new 777- 8 Freighters will have a payload capacity of 118.2 tons and a range of 4,410 nautical miles along with the lowest operating cost per ton.
The global freighter market has huge potential going forward. Airbus (EADSY - Free Report) is also producing new-generation cargo aircraft to benefit from the expanding freighter market. Airbus’ A330-200F models are designed to meet the needs of the freight business in the mid-size and long-haul segments.
Price Performance
In the last three months, Boeing's shares have retured higher than its industry.
LDOS’ long-term (three to five years) earnings growth is currently pegged at 11.06%. The Zacks Consensus Estimate for earnings per share for 2024 and 2025 has moved up by 2.1% and 1.2%, respectively, in the past 60 days.
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Boeing (BA) Wins Turkish Airlines' Four 777 Freighters Order
The Boeing Company (BA - Free Report) has received an order for four 777 Freighters from Turkish Airlines. The company already has eight 777 Freighters in its kitty and new additions will further strengthen the airlines' position in the global air cargo market.
The high quality of Boeing’s 777 Freighters has prompted Turkish Airlines to repeat the orders and execute its plan of expansion of cargo operations.
What’s so Special About 777 Freighters
The Boeing 777 Freighter was launched in 2009 and is a very capable wide-body twin-engine freighter with a maximum payload capacity of 112 tons (102 metric tons) and a range of 4,970 nautical miles (9,200 km).
Due to its capabilities, this freighter from Boeing is responsible for carrying 20% of global air freight. BA has delivered more than 250 of the 777 Freighters to 36 plus customers across the globe.
Due to the success of 777 Freighters, Boeing is planning to develop an upgraded version, namely, 777-8 Freighter, which will be built on the benefits of the previous version.
Freight Market to Expand
Per a Motor Intelligence report, the Freight Forwarding Market size is expected to be $176.2 billion in 2024 and reach $215.1 billion in 2029. Undoubtedly, the freighters will play a crucial role in the swift movement across the globe.
Boeing forecasts the global freighter fleet to reach 3,435 airplanes by 2040 and its 777-8 Freighter can grab a major share of the rising demand attributed to its 30% lower fuel usage and emission from the similar kind of freighters. These new 777- 8 Freighters will have a payload capacity of 118.2 tons and a range of 4,410 nautical miles along with the lowest operating cost per ton.
The global freighter market has huge potential going forward. Airbus (EADSY - Free Report) is also producing new-generation cargo aircraft to benefit from the expanding freighter market. Airbus’ A330-200F models are designed to meet the needs of the freight business in the mid-size and long-haul segments.
Price Performance
In the last three months, Boeing's shares have retured higher than its industry.
Image Source: Zacks Investment Research
Zacks Rank & A Stock to Consider
Boeing currently has a Zacks Rank # 4 (Sell). A better-ranked stock in the same industry is Leidos (LDOS - Free Report) , currently carring a Zacks Rank # 2 (Buy). You can see the complete list of Zacks Rank #1 (Strong Buy) stocks here.
LDOS’ long-term (three to five years) earnings growth is currently pegged at 11.06%. The Zacks Consensus Estimate for earnings per share for 2024 and 2025 has moved up by 2.1% and 1.2%, respectively, in the past 60 days.