• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Investing

Korean Air shows full confidence in Boeing with 40-plane order despite recent challenges

by July 22, 2024
written by July 22, 2024

Boeing Co (NYSE: BA) has received a major endorsement from Korean Air, despite recent setbacks involving the airline’s Boeing 737 Max 8. 

At the Farnborough Airshow on Monday, Korean Air placed an order for 40 new wide-body planes from Boeing, including the highly anticipated 777X model and the 787-10 Dreamliners. 

This substantial commitment highlights ongoing confidence in Boeing amid recent challenges. Boeing stock opened about 1.0% up after receiving the Korean Air order on Monday.

Watch here: https://www.youtube.com/embed/Xm43ZDnA8wY?feature=oembed

Korean Air orders Boeing 777X and Dreamliners

The order from Korean Air encompasses 20 Boeing 777X aircraft and 20 787-10 Dreamliners.

Both models are designed for long-haul routes, with the 777X being Boeing’s largest commercial airliner and the 787-10 known for its efficiency on extended flights.

Additionally, Korean Air has the option to acquire 10 more Dreamliners in the future. Korean Air’s CEO, Walter Cho, anticipates that deliveries will commence before the decade’s end.

Boeing has recently initiated certification flight tests for the 777X with the Federal Aviation Administration (FAA).

Although this marks a step forward, the development of the 777X is still behind schedule.

The new orders come just one week before Boeing is set to release its financial results for the second quarter.

Analysts forecast a loss of $1.40 per share for Q2, a sharp decline from the 82 cents per share reported in the same period last year.

Boeing faces challenges but remains optimistic

Despite supply chain disruptions and safety concerns that have caused Boeing’s stock to drop nearly 30% in 2024, Korean Air’s endorsement underscores continued confidence in Boeing’s capabilities.

Walter Cho expressed strong faith in Boeing’s recovery, stating, “If I wasn’t assured, I wouldn’t have ordered it. I know Boeing will pull through whatever it is they’re going through right now.”

Earlier this year, Korean Air also placed orders for Airbus A350-1000s, indicating a competitive approach to fleet expansion.

Cho emphasized the importance of timely deliveries for both Boeing and Airbus, noting that whichever aircraft is delivered first will become the airline’s flagship.

The new orders are a crucial boost for Boeing as it seeks to restore its reputation and competitive edge in the commercial aviation sector.

On July 1st, Boeing announced plans to repurchase Spirit AeroSystems to address ongoing manufacturing defects, following Airbus’s acquisition of parts of Spirit’s operations to strengthen its own supply chain.

Stephanie Pope, Boeing’s new head of the commercial unit, acknowledged the impact of delayed deliveries on customer satisfaction but assured that the company is undergoing a “transformational change.”

She confirmed that Boeing is committed to ramping up production of the MAX airliner to 38 units per month in the coming months.

As Boeing navigates through its current challenges, the substantial order from Korean Air represents a significant vote of confidence and a critical step toward regaining momentum in the global aviation market.

The post Korean Air shows full confidence in Boeing with 40-plane order despite recent challenges appeared first on Invezz

0 comment
0
FacebookTwitterPinterestEmail

previous post
JPMorgan upgrades Abercrombie & Fitch: Is the stock a buy with a $194 price target?
next post
CrowdStrike faces double downgrade amid IT outage fallout as Cathie Wood seizes the opportunity

related articles

Asian markets open: Nikkei, Hang Seng fall on...

June 12, 2025

Aluminum and steel tariffs spark rise in secondary...

June 12, 2025

Airbus sees aviation boom ahead, global fleet to...

June 12, 2025

US-China trade talks and Washington’s decade-long effort to...

June 12, 2025

Europe markets open: Stoxx 600 dips as UK...

June 12, 2025

UK GDP falls by 0.3% in April as...

June 12, 2025

Gordon Brothers buys Poundland; pledges £80 mn for...

June 12, 2025

Air India plane crash: London-bound flight with 242...

June 12, 2025

Air India plane crash live update: Indian President...

June 12, 2025

Copper remains supported for now even as China...

June 12, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • Biden’s former spokesman slams Trump and GOP ‘colluding to impeach’ judges

    March 20, 2025
  • Election fraud alert: Steps to safeguard your vote

    August 30, 2024
  • Hakeem Jeffries says he’s ‘prepared to find common ground’ with Trump next year

    December 11, 2024
  • No signal, no problem: Intelligence firm debuts drone tech equipped to beat GPS jammers

    March 25, 2025
  • Early voting means ‘election season’ has already begun

    September 19, 2024

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 3

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 4

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (5,603)
  • Investing (634)
  • Stock (867)

Latest Posts

  • Oil and natural gas: Oil finds new support this morning

    August 21, 2024
  • Hospitals nationwide challenge Trump’s executive order on transgender treatments for minors

    February 13, 2025
  • JONATHAN TURLEY: Judge’s Special Counsel ruling may be the setback Trump admin was looking for

    March 2, 2025

Recent Posts

  • Egypt reportedly releases details on plan to rebuild Gaza; there’s no mention of ‘cooperation’ with the US

    February 13, 2025
  • Wealthy investors find opportunities in stock market sell-offs

    August 12, 2024
  • Alcohol warning regulations hit struggling restaurants hard: here’s what you need to know

    January 9, 2025

Editor’s Pick

  • 5-figure ad buy urges states to crack down as China floods market with illicit vapes: ‘Trump was right’

    February 10, 2025
  • House Republicans zero in on Biden autopen pardons after bombshell report

    July 24, 2025
  • Nikola stock price outlook: All eyes on August 9

    July 30, 2024
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock