Boeing Co (NYSE:BA) shares were on the front foot in Monday’s early deals, boosted by reports that China may lift the block on the plane-maker’s 737 Max this week.
The promise of new business from the Dubai Airshow, initially starting with a stream of announcements including a $52 billion deal with Emirates, is also helping the stock.
A report by Bloomberg suggested that a meeting between Joe Biden and China’s president Xi Jinping later this week in San Francisco could be a catalyst for the block on Boeing being lifted.
New orders
Boeing announced that Emirates has ordered ‘nearly 100’ additional widebody aircrafts – including 55 of the 777-9 jets along with 35 Boeing 777-8s and five 787 Dreamliners to expand its long-haul fleet. As a result, Emirates’ order backlog with Boeing increased to 205 777 jets and 35 787 Dreamliners.
FlyDubai, meanwhile, ordered 30 787 Dreamliners as the airline seeks to add routes, supporting Dubai’s aviation hub.
SunExpress – a Turkish Airlines and Lufthansa joint venture – ordered up to 90 Boring 737 Max jets as it seeks to double the size of its fleet in the coming years.
In New York, Boeing shares rose by $6.59 or 3.59% to trade at $203.23.