Boeing Co B.A Stocks traded higher on Tuesday after China’s Civil Aviation Administration (CAAC) reportedly confirmed a meeting with Boeing executives.
The focus of the meeting was the return to service of the 737 MAX. The Boeing 737 MAX was grounded in March 2019 after two fatal crashes.
Boeing shares are also getting a boost after the company forecast its Middle East fleet would more than double by 2041.
Boeing said its Middle East fleet is expected to grow to 3,400 aircraft over the next two decades to service fast-growing passenger traffic and cargo demand. The Middle East needs 2,980 new aircraft worth around $765 billion. More than two-thirds of these deliveries will enable growth, while a third will replace older aircraft with more fuel-efficient models.
BA Price Promotion: Boeing has a 52-week high of $229.67 and a 52-week low of $113.02.
The stock was up 1.3% Tuesday morning at $146.77 Gasoline Pro.
Photo: courtesy of Boeing.
