Boeing, Airbus Tote Up New Orders

The Farnborough Air Show near London ends today, and both Boeing Co. (NYSE: BA) and European Aeronautic Defense and Space Co. (OTC: EADSY), makers of the Airbus family of planes, will tout the number of orders each has taken at the show. Airbus has already announced that it has orders and commitments for 115 aircraft totaling $16.9 billion from the show.

Boeing is expected to announce a deal with United Continental Holdings (NYSE: UAL) for 100 of its 737 MAX aircraft later today. The value of the order, at list prices, is more than $9 billion. Boeing has already announced a $7.9 billion order from Air Lease Corp. (NYSE: AL) and a $9.1 billion deal with the aircraft leasing group of General Electric Co. (NYSE: GE). These three agreements could add up to 300 planes to Boeing’s order book.

At last year’s Paris Air Show, Airbus wrote new orders for more than 1,000 planes worth $72.2 billion, a new record for any aircraft maker. Boeing’s bookings at the show totaled just 142 new planes worth $22 billion. At the time, Boeing had not yet decided whether to build an entirely new aircraft to replace its 737 or to put new, more efficient engines on the venerable design. The company finally decided to go with the new engine, and the 737 MAX family has been the company’s hottest seller at Farnborough.

Boeing stock is up fractionally in the pre-market this morning, at $71.55 in a 52-week range of $56.01-$77.83.

Paul Ausick

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