Boeing said new orders will help it modernize its widebody fleet and also support 35,000 U.S. jobs.
Aerospace and defense giant Boeing Co.’s (BA) shares rallied in Monday’s after-hours session after ending the regular trading session down 1.65%.
Boeing’s stock has gained about 20% this year.
The catalyst driving the upside is a massive aircraft order from Uzbekistan’s state-owned carrier. Boeing announced that it has received orders from Uzbekistan Airways for 14 of its 787-9 airplanes, with the agreement also providing options to purchase eight more ultra-efficient jets. It termed the orders as the single largest order for the air carrier.
The Boeing 787-9 is a midsize, twin-engine, twin-aisle jet aircraft that is fuel-efficient and has long-range capabilities. It can carry up to 296 passengers and has a range of 14,010 kilometers, according to specifications available on Boeing’s website.
Boeing said the new orders will help it modernize its widebody fleet and also support 35,000 U.S. jobs.
Uzbekistan President Shavkat Mirziyoyev joined leaders from Boeing and Uzbekistan Airways to announce the firm order on the sidelines of the United Nations General Assembly. Boeing and the Uzbekistan Ministry of Transport also signed a Memorandum of Cooperation to explore opportunities to expand the country’s aviation ecosystem further.
U.S. President Donald Trump confirmed the order in a post on his Truth Social account. “I want to congratulate President Mirziyoyev on signing a GREAT Deal with Boeing! Worth over $8 Billion Dollars, Uzbekistan Airways is purchasing 22,787 Dreamliners,” he said.
Uzbekistan Airways Chairman Shukhrat Khudaikulov said, “With this new contract, we are further strengthening both our airline’s and our nation’s position as a leading aviation hub in Central Asia, while providing our passengers with greater global connectivity.”
Boeing SVP of Commercial Sales and Marketing Brad McMullen said, “With its fuel efficiency and operational flexibility, the 787 Dreamliner will help Uzbekistan Airways expand into new markets, connecting more travelers to their rich culture.”
The news comes after Bloomberg reported Friday that Turkey could order as many as 250 commercial airplanes and additional F-16 fighter planes from Boeing and Lockheed Martin as soon as this week. The report said the announcement could come after Turkish President Recep Tayyip Erdogan meets with Trump in Washington on Sept. 25.
Separately, a Reuters report stated last week that striking workers at Boeing voted to approve a four-year contract proposal from the union, which the company has refused to consider.
On Stocktwits, retail sentiment toward the Boeing stock turned to ‘extremely bullish’ (78/100) as of late Monday from ‘bullish’ a day ago. The message volume on the stream also turned to ‘high’ levels.
A bullish watcher on the platform began eyeing the $225 level after the new orders. The stock closed at $212.09 on Monday.
The Koyfin-compiled price target for Boeing stock is $253.70, implying a nearly 20% upside from current levels.
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