Boeing shares fall on space and defense orders – Idaho Reporter

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Boeing shares fall on space and defense orders

Source:Google.com

The only Airbus rival, Boeing (NYSE:BA), has received an order from NASA but investors are not impressed as BA stock price went down almost 4% on Thursday. Boeing announced that the US aircraft manufacturer supports the work of the International Space Station (ISS). The group will supply technical equipment for this. The contract runs until 2024 and is valued at $ 916 million.

More specifically, Boeing will receive $ 225 million annually. The company will provide technical support services, resources and personnel for activities on board the ISS and will manage the station’s systems.

This is the second largest order in a very short time that Boeing won outside commercial aircraft niche. Previously, the aircraft manufacturer had already received an order from the Air Force on Tuesday.

In the current market phase, when the demand for aircraft is declining, space and defense orders are becoming increasingly important for Boeing. However, the volume is still too small to compensate for the losses in the construction of commercial aircraft’s. An entry point into Boeing stock is still under the question..

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