Published: Sun, April 08, 2018
Markets | By Noel Gibbs

American Airlines orders 47 new Boeings, ending Airbus order

American Airlines orders 47 new Boeings, ending Airbus order

The order is worth approximately $12 billion based on the list price of the Dreamliner.

American will operate 89 787s once all aircraft under its previous order and the order announced now are delivered.

Reuters had previously reported that Boeing was primed to emerge triumphant in the hard-fought widebody contest, bringing along in its victory engine maker General Electric, whose engines are expected to power the Boeing aircraft. They are scheduled to join its fleet beginning in 2020. Stonehearth Capital Management LLC acquired a new position in Boeing during the fourth quarter valued at approximately $105,000.

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And though revenues per user have been in decline, it expects operating losses to narrow after they rose previous year . Its debut on the stock market will differ from the usual format, as the company will not issue any new shares.

As part of the agreement, American said it will defer 40 Boeing 737 MAX aircraft that were to arrive between 2020 and 2022, to "better align with planned retirements of other narrowbody aircraft". The airline did not specify when or if the 737s have been rescheduled. nor did either company indicate when delivery of the new 787s would begin.

More likely is that the 47 planes were included in the options taken with the first order. "This new order is a powerful endorsement of the 787 family's unique passenger appeal and unmatched ability to help airlines open new routes and grow profitably", said Boeing Commercial Airplanes President and CEO Kevin McAllister.

The news is the latest in a catalogue of setbacks for Airbus, whose contract was scrapped after previously supplying American Airlines with almost three dozen A350s in 2013.

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Boeing Co (NYSE:BA) has beaten out its largest rival in a key deal to supply the next generation of widebody passenger airplanes to a major USA airline. How does Boeing do it?

(BA.N) 787 Dreamliners for long-range flying, expanding its fleet of the advanced carbon-composite jetliners and dealing a blow to Airbus SE's ambitions to expand its wide-body aircraft sales in the U.S. As Ostrower points out, it will all come down to pricing.

Boeing Co shares closed at $326.12 on Friday, down $10.28 (-3.06%). Buckingham Research set a $289.00 price target on Boeing and gave the stock a hold rating in a research report on Thursday, February 8th.

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