Boeing (BA) has confirmed an agreement with investment firm 777 Partners, which will buy 24,737 Max aircraft with options for another 60 aircraft. Boeing stock jumped.
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While the deal was officially announced Friday, Flair Airlines, Canada, only reported the deal when it announced a deal to lease 13 Boeing 737 Max aircraft from the investment firm.
“Flair will lease the initial 13 aircraft from one of its significant financiers, 777 Partners, which recently entered into an agreement with Boeing for 24 new Boeing 737-8 aircraft, along with options to acquire another 60 737-8 aircraft. scrape, “said the Jan. 27 statement read.
Boeing did not return requests for clarification on the deal.
777 Partners owns a stake in Flair and plans to lease the 737 Max aircraft to Flair and other affiliated airlines.
“The relocation of traditional transportation companies worldwide has created an unprecedented market opportunity for more agile and cost-effective entrepreneurs,” Joshua Wander, founder and managing partner of 777 Partners, said in the release on Friday. “These aircraft will enable our operators to accelerate recovery in the destinations they serve.”
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Boeing Stock
Shares rose 5% on the stock market today to 264.90, reaching the highest level in a year and recovering all its pandemic losses. According to MarketSmith, the Boeing stock broke out of a cup base on March 10 with a buy point of 244.18. The buying zone extends to 256.39, which means that the Boeing shares have already been expanded.
Shares of 737 Max Provider Spirit AeroSystems (SPR) rose 3.8% and the engine supplier General Electric (GE) climbed 1.2%.
As the 737 Max is back in service and resumes deliveries, the orders have also been sent in, helping to recover the Boeing shares.
The February report showed more orders than cancellations for the first time since 2019, when the 737 Max was grounded after two fatal crashes. According to the data, Boeing received an order for 14,737 Max aircraft for an unknown customer last month.
Earlier this month, United Airlines (UAL) has announced plans to buy another 25 Boeing 737 Max aircraft, bringing the total Max order to 180. The airline also plans to move up 45,737 Max deliveries of aircraft.
Ireland’s Ryanair (RYAAY) and Alaska Airlines (ALK) has also announced large 737 Max orders over the past few months.
Plus, Suidwes (LUV) is apparently close to an agreement with Boeing for a potentially large 737 Max order.
Follow Gillian Rich Twitter for aviation news and more.
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