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Boeing Company (NYSE:BA) disclosed an order for 10 new 787 Dreamliners from LATAM Airlines Group, with options for five additional aircraft.
This acquisition strengthens LATAM's position as the region’s largest 787 operator and further invests in a fuel-efficient, modern fleet for Latin America.
With this latest order, LATAM plans to expand its 787 fleet to 52 by 2030, enhancing capacity on high-demand routes and supporting new routes, such as its nonstop service to Sydney, Australia.
Notably, Boeing's 2024 Commercial Market Outlook projects that Latin American air travel will more than double in the next 20 years, with annual growth of 5%. Nearly 2,300 new airplane deliveries are expected, expanding the regional fleet to over 3,000 aircraft by 2043.
Ramiro Alfonsín, Chief Financial Officer of the LATAM Airlines Group said, “The Boeing 787 is a much more efficient aircraft, allowing us to continue growing sustainably while reducing our carbon footprint as we drive the growth of our operations. This order will enable us to receive at least two aircraft of this model each year from 2025 until the end of the decade,”
Also Read: What’s Going On With Boeing Stock Monday?
Today, Boeing disclosed concurrent public offerings of 90 million common shares and $5 billion in depositary shares.
Boeing plans to use the proceeds for general corporate purposes, such as debt repayment, working capital, capital expenditures, and subsidiary investments.
Investors can gain exposure to the stock via First Trust Exchange-Traded Fund First Trust Indxx Aerospace & Defense ETF (NYSE:MISL) and Gabelli Commercial Aerospace and Defense ETF (NYSE:GCAD).
Price Action: BA shares are down 1.16% at $153.29 at the last check Monday.
Photo via Shutterstock
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