Boeing (BA) and its jet engine supplier General Electric (GE) heads to the Paris Air Show next week, fueled by an increase in orders and deliveries. BA stock rose close to a buy point on Friday. GE stock and Boeing’s European rival Airbus (EADSY) reached highs in 52 weeks.
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Boeing’s new commercial jets
The Dow Jones giant confirmed on Monday that it will showcase the Boeing 737 Max 10 and Boeing 777-9, its new commercial jets, at the week-long air show. The event runs from June 18-25.
General Electric (GE) supplies engines for the 777-9 jet. It also manufactures engines for the 737-10 through a joint venture. GE also supplies Airbus with jet engines.
Airbus and GE will also showcase their latest products at the 2023 Paris Air Show. GE CEO Larry Culp will lead an investor event on June 20, the company announced Friday.
On Tuesday, Boeing reported 50 deliveries last month, nearly double April’s 26. It reported 69 orders, more than double April’s 34.
However, its 206 deliveries so far this year lag behind Airbus’ 244, amid production problems.
Boeing’s bestseller
The 737 Max, a narrow-body aircraft, is Boeing’s best-selling aircraft. The 777-9, a wide-body aircraft, borrows advanced technologies from the 787 Dreamliner, according to Boeing.
Recently, Boeing suspended or slowed deliveries of the 737 and 787 due to manufacturing issues.
On June 18, the company will also release its commercial market outlook for 2023.
Action BA, Airbus and GE
Boeing shares rose 0.2% to 219.95 trading today. BA stock rose above a buy point of 221.33 from a flat base on Monday, but closed below on Friday. Boeing stock cleared an early entry on June 8.
Dow stock last broke in November 2022 on a forecast of increased jet deliveries.
Airbus shares gained 0.6% to 35.65. EADSY stock broke a buy point of 34.85 from a shallow double bottom on Tuesday.
GE shares rose 0.8% to 106.30.
Ahead of the Paris Air Show, EADSY and GE shares hit 52-week highs on Friday. Boeing had hit a 52-week high at 223.91 on Monday.
Early next year, GE plans to become an aviation-focused company, ending the conglomerate’s breakup.
Paris Air Show
The biennial Paris Air Show, one of the oldest and largest in the world, returns after a four-year hiatus. It was canceled in 2021 due to the Covid-19 pandemic.
Boeing and other aircraft manufacturers plan to meet with customers. They are likely to announce new orders during the event.
The company is looking to increase Max production after fatal plane crashes in 2018-19. It faces manufacturing and certification challenges, including an issue with airframes built by Spirit AeroSystems (RPS).
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