Categories LATEST

Boeing bags $9.2 billion contract from the US Air Force

The US Air Force has selected Boeing (BA) for the T-X pilot training program that is valued up to $9.2 billion, in which the Air Force will initially procure 351 jets, 46 simulators and related ground equipment, and up to a total of 475 jets and 120 simulators, should they be ordered. Shares of Boeing almost touched its 52-week high of $374.48 during midday trading on Friday.

Two years back, Boeing partnered with Swedish defense company Saab and created two Boeing T-X aircraft especially for the US Air Force training purpose with a plan to operate them in 2024. Saab reported that the initial $813 million award to Boeing covers the engineering and manufacturing development of the first five aircraft and seven simulators.

Saab added that it has not obtained the order from its US counterpart at this point and over 90% of Boeing’s offering will be made in the US, supporting over 17,000 jobs in 34 states.

The company has been winning contracts on a regular basis this year. Boeing received an order to build two planes for the US President amounting to $3.9 billion earlier this year. In August, the defense company bagged an $805 million Navy tanker contract. Last week, Boeing reported that it will provide 84 MH-139 helicopters to the U.S. Air Force to replace the UH-1N Huey helicopters in a deal worth $2.4 billion.

The Chicago-based aircraft maker won the US Air Force bid competing with Lockheed Martin (LMT) and Italian aerospace company Leonardo. While Lockheed Martin’s shares were up slightly during the regular trading session, Boeing shares continued to trade in the positive territory. Boeing stock has gained 26% so far in this year and 46% in the past 12 months.

Boeing goes the extra mile as orders for 737 soar

Most Popular

McCormick (MKC) expects pricing to drive sales growth for the full year of 2022

Shares of McCormick & Co. Inc. (NYSE: MKC) were up on Thursday after the company beat sales estimates for the third quarter of 2022. Adjusted earnings, however, decreased from the

STZ Infographic: Highlights of Constellation Brands’ Q2 2023 earnings results

Constellation Brands, Inc. (NYSE: STZ) announced second-quarter 2023 earnings results on Thursday, reporting a 12% increase in net sales. Comparable earnings, adjusted for one-off items, climbed 33% year-over-year to $3.17

Conagra Brands (CAG) Q1 earnings beat estimates on higher revenues

Packaged Foods company Conagra Brands Inc. (NYSE: CAG) on Thursday said its first-quarter profit increased supported by a 10% revenue growth. Earnings also came in above the consensus forecast. At $2.90

Tags

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top