Norwegian Air Shuttle also placed an order for 30 737 Max jets amid its efforts to expand services in Europe.
Boeing (BA) stock garnered retail attention on Friday after the company secured a commitment from Turkish Airlines for 225 aircraft, in another sign of growing confidence in the planemaker.
The carrier will initially purchase 75 aircraft, comprising 35 787-9 models, 15 787-10 models, and options for 25 787 Dreamliners, to grow and modernize the airline’s fleet. The airline also plans to buy up to 150 more 737 MAX airplanes, its largest Boeing single-aisle order when finalized. The twin orders will double Turkish Airlines’ Boeing fleet as the carrier expands its capacity and network.
“Adding the larger 787-10 to its future fleet will enable Turkish Airlines to benefit from additional passenger and cargo capacity while improving fuel efficiency on high-demand routes between Istanbul and destinations in the U.S., Africa, Southeast Asia, and the Middle East,” the two companies said in a statement.
Retail sentiment on Stocktwits about Boeing (BA) was in the ‘extremely bullish’ territory at the time of writing.
The order followed a visit by Turkish President Recep Tayyip Erdogan to Washington as he attempts to mend ties with the White House. Turkey and the U.S. have spat in recent years over the former’s purchase of Russian arms and involvement in the conflict in Syria, and retaliatory tariffs.
After U.S. President Donald Trump pledged to withdraw from Syria, Turkey attacked U.S.-backed Kurdish forces, prompting Washington to sanction several Turkish ministers. The crisis later de-escalated.
Separately, Norwegian Air Shuttle placed an order for 30 737-8 airplanes, making the group’s first direct Boeing order since 2017 and raising its order book of Boeing’s best-selling jet series to 80 airplanes.
The twin orders demonstrate that, despite the troubles of last year, global carriers have still maintained their faith in the aerospace giant, as it currently has a backlog of approximately 6,000 commercial aircraft. The airline has also benefited from countries rushing to cut their trade deficit with the U.S. through aircraft purchases.
“One day this will break $260+ after delivering growth and guiding higher. If they don’t screw up on quality and continue to execute on their backlog using automation and robotics, they will speed up delivery and keep opex down,” a Stocktwits user said.
Boeing stock has gained 19.8% this year. However, the stock has been on a 5-day losing streak.
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