Boeing Stock Soars After Pegasus Airlines' Major Order

Investing.com -- Shares of The Boeing Company (NYSE:BA) rose by 3% today after Turkey's leading low-cost airline, Pegasus Airlines, announced a significant order for Boeing's 737 MAX aircraft. The deal includes 100 firm orders for the 737 MAX 10 model and options for an additional 100 aircraft. This order surpasses the current size of Pegasus's fleet and demonstrates confidence in Boeing's 737 MAX series.

The order is particularly notable as it exceeds Pegasus's existing fleet. The airline's current fleet consists of 46 A320-200neo, 41 A321-200neo, 7 A320-200ceo, and 16 737-800 aircraft. The first deliveries of the new planes are planned for 2028, which aligns with Boeing's most recent projections for MAX 10 certification at the end of 2025 and early 2026.

Jefferies analyst Sheila Kahyaoglu commented on the broader implications of Boeing's delivery schedule: "We anticipate 45 MAX deliveries in Q4 (this is a substantial Q4 increase and could be challenging considering the 12 aircraft delivered in October/November). We expect 270 deliveries in 2024 and 384 in 2025 (assuming 29 production per month instead of 32)."

This significant order from Pegasus Airlines may reflect increasing market confidence following the previous flight bans and safety concerns surrounding the 737 MAX.