Setback For The Boeing Company (NYSE:BA)

Posted by George Brook October 8, 2013 0 Comment 938 views

To date, The Boeing Company (NYSE:BA) has had a monopoly of sorts in Japan’s commercial airplane industry. Now Airbus has managed to successfully break-through that armor with the multi-billion dollar order that it has received from JAL. The latter has ordered thirty-one A350 airplanes valued at around $9.5B at the list prices.

This aircraft had completed its maiden flight in the early part of this year and the 1st variant set of this aircraft is slated to enter service next year. On the other hand, The Boeing Company (NYSE:BA)’s 787 Dreamliners biggest model is expected to see the market only in 2017.

The Boeing Company (NYSE:BA) had a dominant position in the Japanese domain, with 78% of the JAL fleet being Boeing jets and ANA’s fleet was made up of 84% of Boeing aircraft. Japan supplies a large number of components to the U.S and it seemed that its preference for Boeing aircraft has been attributed to this. Airbus is a European company and now that it has broken through the Boeing stronghold, who knows what the future will holds for Boeing?

Monday’s trading session

In Monday’s trading, The Boeing Company (NYSE:BA) dropped by 0.44%. The opening price of the shares was $115.51, which climbed to an intraday high of $117.17 and dipped to a close of $116.69. Approximately 3.82 million shares were traded on Monday while an average volume of 4.07 million shares were traded over a 30 day period. The 52-week low of The Boeing Company (NYSE:BA) shares is $69.30 and its 52-week high is $120.38. The company has a market capitalization of $88.04 billion.

About the company

The Boeing Company (NYSE:BA) is an aerospace-company. It operates in 5 business segments: 1) Commercial Airplanes, 2) Boeing Military Aircraft, 3) Network & Space Systems, 4) Global Services & Support and 5) Boeing Capital Corporation.

About George Brook

George Brook covers money and politics for GDP Insider. George is a veteran journalist who has also covered Congress, national political conventions and presidential politics. George also covers the White House as well as economic and domestic policy for GDP insider. George's reporting has won numerous awards, including two Scripps Howard awards, two National Headliners, two Gerald Loeb Awards, as well as honors from Sigma Delta Chi and the National Press Club.

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