Boeing Shares Gain After Order Book Surges At Farnborough Air Show

As the Farnborough Air Show kicks off in London, orders and contracts have started to line up for Boeing Co BA.

ANA HOLDINGS, the parent company of All Nippon Airways (ANA), signed an order for 20 737-8 airplanes, with 10 options in addition to the airline's selection of the new 777-8 Freighter. This order expands ANA's order book to 61 Boeing airplanes, including the 737 MAX, 787, and 777X.

With commonality and enhanced efficiency, the 737-8 will enable ANA to optimize its fleet across its operations while reducing fuel use and carbon emissions by 20% and noise by 50% compared to the airplanes it replaces.

Related: Boeing' Very Close' To Delivering 787 Dreamliner After 2 Years — Gives Update On 737 MAX Status

Delta Air Lines DAL signed an order for 100 737-10 jets selecting the largest member of the 737 MAX family, with options for an additional 30 airplanes. Deliveries to start in 2025.

Delta will modernize its single-aisle fleet with the highly efficient 737 MAX to meet demand and long-term sustainability goals.

Delta Air Lines also contracted with Boeing Global Services for a full interior reconfiguration of 29 Next Generation 737-900ERs in its fleet.

Boeing and Guangzhou Aircraft Maintenance Engineering Co., Ltd. (GAMECO) signed a 5-year Integrated Materials Management (IMM) program contract.

The new 5-year program will provide demand planning, on-site personnel, and logistics services to support GAMECO's operations, optimize materials purchase and inventory costs, and improve production service levels.

Also Read: Benchmark Reduces Boeing Price Target By 20% - Read Why

Separately, Boeing unveiled a new data modeling tool to show the most effective scenarios for reaching the destination by 2050. The model includes consultation with leading universities and will continue to be used with key stakeholders.

Price Action: BA shares are trading higher by 3.95% at $153.57 during the premarket session on Monday.