Boeing Shares Are Taking Off Tuesday: What's Going On?

Boeing Co BA shares are trading higher Tuesday after Ryanair placed an order for up to 300 737 MAX jets.

The Details: Ryanair placed the biggest jet order in its history with Boeing. The purchase agreement includes a firm order for 150 737-10 jets and an option to purchase up to an additional 150 jets.

"Ryanair is pleased to sign this record aircraft order for up to 300 MAX 10s with our aircraft partner Boeing. These new, fuel efficient, greener technology aircraft offer 21% more seats, burn 20% less fuel and are 50% quieter than our B737-NGs," said Michael O'Leary, CEO of Ryanair.

The order is expected to create 10,000 new jobs for aviation professionals over the next decade.

Boeing said its partnership with Ryanair is "one of the most productive" in the history of commercial aviation. The company noted that it's committed to delivering for the airline company and helping it achieve its goals.

Boeing reported first-quarter earnings at the end of April. The company said it expects to deliver between 400 and 450 planes this year. 

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BA Price Action: Boeing shares were up 3.44% at $204.08 at the time of writing, according to Benzinga Pro.

Photo: courtesy of Boeing.