The Boeing Company (BA) received an order for three 777 Freighters and two 777-300ERs from Qatar Airways. The combined value of the order comes to about $ 1.4 billion.
Qatar Airways has ordered these 777 planes to take advantage of the phenomenal economic growth in the state of Qatar. The airline currently operates 25 777s, which have become the flagship of its fleet. Qatar Airways’ fleet comprises eight ultra-long range 777-200LR, fifteen 777-300ERs and two long-range 777 freighters.
Boeing’s 777 model is one of the most successful twin-engine airplanes. The Boeing 777 Freighter has unmatched capacity compared to other available airplanes. Further, its economics make it an attractive addition to the Qatari fleet. Boeing’s 777-300ER is an extended-range passenger version of the 777 Freighter.
Going forward, Boeing expects to continue to grow its partnership with Qatar Airways as the airline expands its position on the international stage.
We believe the improvement in the commercial airplane market is self-evident from Boeing's continuous success in securing more orders. In the last week of March alone, Boeing received orders for ten 777-300 extended range (ER) from the aviation unit of General Electric Co. (GE), followed by an order for fifteen 737 airplanes from a Turkish Airliner.
Headquartered in Chicago, The Boeing Co. is a premier jet aircraft manufacturer and one of the largest defense contractors in the U.S. The company’s customers include domestic and foreign airlines, the U.S. Department of Defense (DoD), the Department of Homeland Security, the National Aeronautics and Space Administration (NASA), other aerospace prime contractors, and certain U.S. government and commercial communications customers.
Boeing Co. currently has a Zacks #3 Rank (short-term Hold rating). We also maintain a long-term Neutral rating on the stock. The company primarily competes with Lockheed Martin Corporation (LMT) and Northrop Grumman Corporation (NOC).
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