Boeing Company (NYSE: BA) announced its major program deliveries for the first quarter of 2024, revealing the delivery of 97 planes across its commercial and defense, space & security programs.
In the commercial airplanes program, Boeing delivered a total of 83 aircraft for the quarter, a notable decrease compared to 130 deliveries in the same period last year. This decline in commercial aircraft deliveries included 67 737 models, three 767 models, and 13 787 models.
On the defense side, Boeing delivered a total of 14 aircraft, consisting of various models across its defense, space & security programs.
Boeing plans to provide detailed first-quarter financial results on April 24, offering insights into its performance and outlook amid industry dynamics and challenges.
A significant development surrounds Boeing’s potential agreement with Airbus SE (OTC: EADSY) to divide the operations of supplier Spirit Aerosystems Holdings, Inc. (NYSE: SPR). This potential deal could mark a shift in Boeing’s 20-year outsourcing strategy, signaling a reevaluation of its supply chain approach.
The discussions between Boeing and Airbus aim to divide Spirit’s assets essential to their respective jet programs, reflecting a strategic move amid market pressures and industry shifts. While the negotiations are ongoing, the delicate nature of the talks underscores the complexity of the arrangement, considering competition and regulatory considerations.
Boeing’s recent challenges, including a mid-air incident in January, have prompted the company to reassess its supply chain strategy and explore potential partnerships or restructuring efforts. The potential agreement with Airbus and Spirit Aerosystems reflects Boeing’s proactive approach to address operational and strategic concerns.
Despite recent challenges, BA stock remains a notable investment opportunity for investors seeking exposure to the aerospace and defense sector. Investors can consider gaining exposure to Boeing through exchange-traded funds (ETFs) such as IShares U.S. Aerospace & Defense ETF (BATS: ITA) and Invesco Aerospace & Defense ETF (NYSE: PPA).
As of the latest update, BA shares are trading slightly lower at $181.15, reflecting ongoing market dynamics and investor sentiment surrounding the company’s performance and strategic initiatives.
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This article originally appeared on Benzinga.com and emphasizes Boeing’s delivery performance and strategic initiatives amid industry challenges and opportunities.