Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

United Airlines nears deal with Boeing for major 787 order - sources

Published 12/02/2022, 12:46 PM
Updated 12/02/2022, 02:00 PM
© Reuters. FILE PHOTO: United Airlines planes are parked at their gates at O'Hare International Airport ahead of the Thanksgiving holiday in Chicago, Illinois, U.S., November 20, 2021.  REUTERS/Brendan McDermid

By David Shepardson and Tim Hepher

WASHINGTON/PARIS (Reuters) -United Airlines Inc is close to reaching a deal with Boeing (NYSE:BA) Co for a major 787 Dreamliner order, two sources briefed on the matter told Reuters.

The precise size of the order could not immediately be determined but is expected to be significant and announced as soon as this month, the sources said.

The Wall Street Journal, which reported the plan earlier, said United was close to ordering dozens of 787 Dreamliners.

In October, Bloomberg News said United was nearing an order for more than 100 widebody jets and was evaluating offers from Boeing and for Airbus SE (OTC:EADSY)'s A350.

In October, Boeing said it was continuing to produce 787s at a low rate, and "will gradually return to five airplanes per month over time." Boeing said with strong demand and more than 400 widebody airplanes in backlog "we anticipate higher production rates."

United and Boeing both declined to comment. United had 64 787 Dreamliners at the end of September and will have 68 by the end of 2022.

In August, Boeing delivered its first 787 since May 2021 after facing production problems. The Federal Aviation Administration cleared the way for deliveries to resume after the agency approved Boeing's inspection and retrofit plan needed to meet certification standards in July.

Both Boeing and Airbus have reported growing demand for widebody jets. United shares were down 1.3% in afternoon trade.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.