What's Going On With Boeing Stock Tuesday?

Boeing Co BA shares are trading higher Tuesday after the company announced that the Lufthansa Group placed a 737 MAX order.

What Happened: Lufthansa Group placed an order with Boeing for up to 100 737 MAX jets. The airline committed to a firm order for 40 737-8 planes and has options for up to 60 other planes.

Lufthansa is Europe's largest airline group and the order marks the return of the Boeing 737 family to its fleet. 

"Our relationship with the Lufthansa Group has led to a number of industry changing achievements and we are delighted to see the 737 return to an original launch customer's fleet," said Stan Deal, president and CEO of Boeing Commercial Airplanes.

"The Lufthansa Group has set bold targets to decarbonize its operations. The 737-8 will help the Lufthansa Group meet those sustainability targets with significant improvements in fuel use, emissions, and community noise impacts, all while reducing costs for the airline."

See Also: Aviation Industry Gearing Up For An Aftermarket Supercycle, Says Analyst

BA Price Action: Boeing shares were up 0.86% at $262.56 at the time of writing, according to Benzinga Pro.

Photo: courtesy of Boeing.