Boeing Co. stock rose more than 4% in midday trading Tuesday after the aerospace and defense company announced new order deals in a storied U.K. air trading show.
“has been the biggest beneficiary at (Farnborough International Airshow) to date, winning 135 new firm orders,” a number that rises to 171 including commitments, Sheyla Kahyaoglu with Jefferies said in a note.
Boeing’s growing order book also includes an order for up to 66 737 Max aircraft from investment firm 777 Partners under undisclosed terms.
“777 Partners is the investment firm behind a number of low-cost carriers around the world, with plans to launch more global low-cost carriers,” the analyst said. Founder and managing partner Josh Wander indicated that 777 Partners would purchase 1,000 airplanes from Boeing in the future, she said.
777 Partners is a Miami-based private investment firm with more than $3 billion in assets across more than 45 operating companies, Kahyaoglu said.
“Aviation is an area of focus, with five investments,” she said, including in a budget airline in Australia whose flights are expected to begin in September, another ultra low-cost carrier in Canada, and a pan-Asian low-cost alliance.
Shares of Boeing have lost 24% this year, compared with losses of 18% for the S&P 500 index
Boeing last week reported second-quarter commercial-jet deliveries that were 50% higher than in the second quarter of 2021.