Roll Out The Landing Gear, United Airlines Stock Is Diving: What's Going On?

United Airlines Holdings Inc UAL shares are down 5% Tuesday while the broader market surges. Here's a look at what's going on with the airline stock.

What's Going On: United Airlines announced an order for 100 Boeing Co BA 787 Dreamliners with options to purchase 100 more. The order represents the largest widebody order by a U.S. carrier in commercial aviation history.

United has the option to choose among the 787-8, 9 or 10 models. The company expects to take delivery of the new widebody planes between 2024 and 2032.

United exercised options to purchase 44 Boeing 737 MAX aircraft, which will be delivered between 2024 and 2026. The airline also ordered 56 more MAX aircraft for delivery between 2027 and 2028. United now expects to take delivery of approximately 700 new narrow and widebody aircraft by the end of 2032.

"United emerged from the pandemic as the world's leading global airline and the flag carrier of the United States. This order further solidifies our lead and creates new opportunities for our customers, employees and shareholders by accelerating our plan to connect more people to more places around the globe and deliver the best experience in the sky," said Scott Kirby, CEO of United.

See Also: Boeing Stock Jumped On Monday: What Happened?

UAL Price Action: United has a 52-week high of $53.12 and a 52-week low of $30.54.

The stock was down 5.03% at $42.02 at the time of writing, according to Benzinga Pro.

Photo: Luc Verkuringen from Flickr.