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Boeing Stock Rises 4% on Delta's 100 Planes Order

Stock Markets Jul 18, 2022 07:30
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By Senad Karaahmetovic

Delta Air Lines (NYSE:DAL) announced a new deal with Boeing (NYSE:BA) that will see the jet maker provide 100 737 MAX planes to the U.S. carrier to address the growing demand.

The deal also includes an option to order an additional 30 737-10 jets - the largest model of the 737 MAX lineup.

"The Boeing 737-10 will be an important addition to Delta's fleet as we shape a more sustainable future for air travel, with an elevated customer experience, improved fuel efficiency, and best-in-class performance," said Delta CEO Ed Bastian.

"These new aircraft provide superior operating economics and network flexibility, and the agreement reflects our prudent approach to deploying our capital."

Bastian added that the 737-10 will be “piloted, served, and maintained by the very best professionals in the business.”

With 737-10, the U.S. planemaker will gain access to the best per-seat economics of all single-aisle Boeing jets. The 737-10 also cuts fuel use and emissions by more than 20% compared to other models and can fly 99% of single-aisle routes. It can accommodate up to 230 passengers and has a maximum range of 3,300 nautical miles.

The new 100 737-10 jets will mark a significant upgrade for Delta’s fleet, which consists of 850 mainline jets, more than 450 of which are Boeing models including 717s, 737s, 757s, and 767s.

Boeing shares are up 4% premarket on today’s news.

Boeing Stock Rises 4% on Delta's 100 Planes Order
 

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