Boeing stock rose Tuesday on reports that the Dow Jones giant is closing in on a major order with Turkish Airlines. Elsewhere, reports indicate that China has cleared the 737 Max for takeoff.
Turkish Airlines is in talks to purchase about 250 Boeing jets, Bloomberg reported Tuesday.
The airline is considering buying 150 to 175 Boeing 737 Max planes. Boeing's 787 Dreamliner jets will make up the rest of the order. Talks are in early phases and there is no timeline for a final agreement, Turkish Chairman Ahmet Bolat said during an interview at the annual International Air Transport Association meeting in Dubai.
The current discussions revolve around target prices, commercial terms and the cost of engines.
Turkish Airlines in December ordered an additional 220 aircraft from Airbus for an undisclosed sum.
Elsewhere on Tuesday, unconfirmed reports said China-based 9Air expects the "imminent" delivery of a Boeing 737 Max jet, which should arrive from Seattle on June 7.
Earlier Tuesday morning, Deutsche Bank noted that a 737 Max flight was scheduled to depart for Honolulu out of Boeing Field in Seattle, on its way to 9Air. The aircraft registration number had not been loaded, indicating that it was a "new" tail and a delivery flight. If so, that means China again cleared the 737 Max for deliveries to the country, Deutsche Bank wrote in a note reported by The Fly. The firm has a buy rating on Boeing stock and a $225 price target on the shares.
Boeing in January delivered its first 737 Max to China Southern Airlines. That marked the first 737 Max delivery to China since 2019, when Beijing banned the model following fatal crashes in Indonesia and Ethiopia.
Boeing Stock
BA stock swung 2.2% higher Tuesday to mark four consecutive daily gains. Shares gained 6.2% so far this week.
Boeing stock has tumbled 27.6% in 2024 following a series of midflight emergencies that started in January and stemmed from quality control problems. The issues prompted the Federal Aviation Administration to temporarily ground 737 Max 9 and Max900ER models for additional safety inspections.
Elsewhere, Dave Calhoun in March announced he will step down as CEO of the Dow Jones aerospace giant at the end of the year.
EADSY stock declined 1.8% Tuesday. Airbus shares climbed about 7.8% this year.
You can follow Harrison Miller for more stock news and updates on Twitter @IBD_Harrison
