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By Sam Boughedda
Investing.com — Boeing Co (NYSE:) shares have been given a great addition Tuesday, rising 5% on information that it has obtained an order for 19 767 freighters from bundle supply firm United Parcel Service Inc (NYSE:).
Boeing shares are buying and selling across the $198.21 mark. Nonetheless, they’re down over 7.5% in 2021. UPS shares are presently up over 2.5%.
Boeing stated the order has come due to rising air cargo demand, ensuing from an growth of the e-commerce and categorical cargo markets.
Regardless of Boeing’s struggles for the reason that begin of the pandemic, freighter gross sales have been optimistic in 2021, leading to a record-breaking 12 months, together with 80 agency orders for brand new widebody freighters and over 80 orders for Boeing Transformed Freighters. In distinction, UPS’ enterprise and its inventory worth have benefitted considerably from the pandemic, with restrictions inflicting a rise in on-line buying.
“Our plan to buy 19 plane and take supply between 2023 and 2025 aligns with the technique and capital expenditure forecast shared throughout our June 2021 Investor and Analyst Day. It additionally helps our sustainability efforts by making our fleet extra environment friendly and bettering reliability,” stated UPS U.S. Operations President Nando Cesarone.
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