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DOHA - Qatar Airways has placed a record-breaking order with Boeing [NYSE: BA] for up to 210 widebody aircraft, marking the largest such order for the American aerospace manufacturer and a significant expansion move for the Middle Eastern carrier. This order includes 130 Boeing 787 Dreamliners and 30 777-9s, with options for an additional 50 aircraft from the 787 and 777X lines. Boeing’s stock, currently trading near its 52-week high with a 47% gain over the past six months, reflects strong market confidence. According to InvestingPro analysis, the company’s current market capitalization stands at $154.5 billion.
The purchase agreement, which was signed today, is set to support approximately 400,000 jobs in the United States. It represents the largest order ever made by Qatar Airways and the most substantial order for 787 Dreamliners by any airline, positioning Qatar Airways as the preeminent 787 operator in the Middle East. As a prominent player in the Aerospace & Defense industry, Boeing’s annual revenue stands at $69.4 billion, though InvestingPro data shows analysts have revised their earnings expectations downward for the upcoming period.
Both the 787 Dreamliner and the 777-9 are known for their fuel efficiency and reduced emissions, boasting a 25% improvement compared to the aircraft they replace. The 777-9 also earns distinction as the world’s largest twin-engine jet, setting new standards for passenger comfort and operational efficiency.
In attendance at the signing ceremony were U.S. President Donald J. Trump, His Highness Sheikh Tamim bin Hamad Al Thani, Amir of the State of Qatar, Boeing President and CEO Kelly Ortberg, Boeing Commercial Airplanes President and CEO Stephanie Pope, and Qatar Airways Group Chief Executive Officer Engr. Badr Mohammed Al-Meer.
Qatar Airways CEO Engr. Badr Mohammed Al-Meer expressed the airline’s commitment to investing in the "cleanest, youngest and most efficient fleet in global aviation," aiming to meet rising demand and improve passenger connectivity. Stephanie Pope of Boeing echoed the sentiment, highlighting the honor of having Qatar Airways solidify its future fleet with Boeing’s widebody airplanes.
With a current fleet of over 150 Boeing aircraft, Qatar Airways continues to build on its reputation for excellence, having been named ’World’s Best Airline’ eight times by Skytrax. The airline also leads in environmental and ethical standards, being the first in the Middle East to achieve the highest level of IATA’s Environmental Assessment program and to combat illegal wildlife trafficking in aviation. For investors seeking deeper insights into Boeing’s financial health and growth prospects, InvestingPro offers comprehensive analysis with 12 additional ProTips and detailed metrics in their Pro Research Report, available exclusively to subscribers.
The information for this article is based on a press release statement.
In other recent news, Boeing has made headlines with a series of significant developments. The company has secured a major deal with Qatar to sell 160 jets, valued at $200 billion, as part of Qatar Airways’ expansion. Additionally, Boeing delivered 45 commercial jets in April, nearly double the number from the same month last year, highlighting the company’s efforts to increase cash flow amid past production issues. In a separate agreement, AviLease from Saudi Arabia has ordered 20 Boeing 737-8 airplanes, with options for 10 more, as part of Saudi Arabia’s vision to become a global aviation hub by 2030.
On the international front, the United States and Qatar signed commercial agreements worth over $243 billion, including a $96 billion sale of Boeing aircraft to Qatar Airways. These deals are expected to create thousands of American jobs and promote economic growth. Furthermore, Saudi Arabia has announced a $600 billion investment in the United States, focusing on sectors like energy, defense, and technology, with potential benefits for American employment and innovation. These agreements include a historic $142 billion defense sales deal, marking the largest in history. These recent developments underscore Boeing’s pivotal role in global aviation and its ongoing efforts to stabilize and grow its operations.
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