What's Going On With Boeing Stock?

Boeing Co BA shares are trading higher. Akasa Air on Thursday announced it ordered 150 Boeing 737 MAX planes.

What To Know: Akasa Air has placed an order with Boeing for 150 narrowbody planes, showing its confidence in the company following the mid-air incident earlier this month, per Reuters.

This is Boeing’s first major order since the Federal Aviation Administration grounded 171 jets after travelers aboard an Alaska Airlines flight were forced to make an emergency landing after a panel flew off a new 737 MAX 9 shortly after takeoff.

The report indicates that the order, which doesn’t include Boeing’s 737 Max 9 version of the plane, was announced at the “Wings India” air show this week.

“We feel very confident about the aircraft type that we have … even seeing Boeing’s commitment to the way they’ve handled this problem,” Akasa’s chief legal, regulatory and strategic relations officer Priya Mehra reportedly told Reuters.

Akasa is now set to receive a total of 204 planes over an eight-year period. Further terms of the Boeing deal were not disclosed at the air show.

The FAA on Friday extended its order for Boeing Max 9s to remain grounded. In a letter to employees on Monday, Stan Deal, president of Boeing Commercial Airplanes, said the company will require additional quality inspections including sending a team to oversee work at Spirit AeroSystems, which makes and installs the part of the plane that was involved in the incident.

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BA Price Action: Boeing shares were up 1.15% at $205.30 at the time of publication, according to Benzinga Pro.

Photo: courtesy of Boeing.