Business

Boeing aircrafts’ demand increases at Paris Air Show

US-based aircraft manufacturer Boeing met with a huge demand for its fleet, as the airlines were lining up to place or confirm their orders on the first day of Paris Air Show on June 17, 2013. The value of the orders went over the $10 billion mark. Morgan Stanley showed its domination on the jet maker’s stock and called it an overweight rating.

Under such circumstances, the shares of Boeing went up 1.2 % in recent trade, to $103.04 and they have gone up 37% year-to-date. This has also sparked rumours that the new 797 aircraft might soon be launched, maybe even this week. The GECAS, which is a unit of GE, became the second largest company to endorse Boeing 787- 10X on Monday, June 17, 2013 at the air show.

The GECAS had also committed to buy 10 Boeing 787-10X as it followed in the footsteps of Singapore Airlines. Last week’s report said that Boeing is expected to launch the program as soon as this week.

The new larger version of the 787 is expected to be made of similar carbon composite materials, which is intended to save costs, but will be able to seat more people. More airline companies also ordered their new aircrafts from Boeing.