Shares of Boeing Co. (NYSE: BA), an Illinois-based company engaged in the manufacturing of commercial jet aircraft, as well as providing related support services to the commercial airline industry worldwide, are down in trading today even as the company announced the receipt of an additional 11 787-9 Dreamliners from All Nippon Airlines (ANA).
It may be recalled that ANA was the launch customer for BA’s 787 Dreamliner. In fact, BA is today celebrating the first anniversary of first 787 delivery.
BA’s 787 Dreamliner is the first commercial jetliner made primarily of advanced composite materials and offers 20% better fuel efficiency and provides exceptional passenger comfort features.
Hideki Kunugi, Head of Aircraft Purchasing & Sales at ANA, said that the improved fuel efficiency and greater seating capacity of 787-9 will provide ANA with added flexibility. Kunugi also said that the new Dreamliners will also support the profitable expansion of ANA’s international and domestic routes in the future.
Boeing is also scrutinizing the proposed merger between European Aeronautic, Defence & Space Co. (EADS) and BAE Systems Plc in order to identify any potential implications or any concerns which may rise out of this merger. Though the merging companies have time till Oct 10th to release their detailed merger plans, the other European and American Aerospace companies are waiting on any kind of information regarding the $45 billion merger.
As per the latest quarterly results for the period ended June 30, 2012, BA had revenues of $20.01 billion with operating income of $1.55 billion and net income of $0.97 billion. The company’s Total assets were $81.6 billion including $10.3 billion as cash and its equivalents. Total liabilities were $75.7 billion, among which 56% were current and the remaining was long term. Total stockholders’ equity was $5.89 billion.
BA shares are currently trading 0.40% lower at $69.75 on volume of 1.89 million. The stock hit an intra-day low of $69.68.
Year-to-date, BA shares have fallen more than 4%, underperforming the S&P 500.
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