Boeing Company (NYSE:BA) shares are trading lower on Wednesday after the company disclosed that Canadian airline WestJet ordered 67 additional Boeing aircraft.
This deal raised the Canadian airline’s total firm orders to 123. WestJet aims to grow its fleet and expand both domestic and international routes.
WestJet's June order, previously listed as unidentified on Boeing's Orders & Deliveries site, consists of 60 Boeing 737-10 jets (with options for 25 additional aircraft) and seven Boeing 787-9 jets (with options for four more).
The agreement increases WestJet's 737-10 order total to 107 aircraft. It enables the airline to carry more passengers at the lowest cost per seat among single-aisle jets.
Boeing commercial airplanes head Stephanie Pope praised the deal, which comes on the heels of another agreement, an order for 30 737-8 jets, with Macquarie AirFinance.
Also, last month, Boeing secured a $36.2 billion deal with Korean Air for 103 Boeing planes. Korean Air ordered a mix of 787, 777, and 737 passenger jets.
The WestJet announcement comes just as a U.S. judge agreed to hold a hearing on a Justice Department deal that lets Boeing avoid prosecution over two fatal 737 MAX crashes that killed 346 people.
Judge Reed O'Connor in Texas will weigh objections from victims' families, who oppose the agreement shielding Boeing from independent oversight for three years.
The review comes less than three months after the National Transportation Safety Board blasted Boeing's safety culture. The agency cited poor training, oversight, and missing bolts for causing a mid-air panel blowout on an Alaska Airlines 737 MAX 9 in January 2024.
Investors can gain exposure to the stock via Direxion Daily BA Bull 2X Shares (BOEU) and iShares U.S. Aerospace & Defense ETF (ITA).
Price Action: BA shares are down 2% at $232.65 at the last check on Wednesday.
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