MILAN, Jan 11 (Class Editori) — Leonardo benefits from Boeing’s deliveries increase (+0.72% to 8.118 euros share price on the Italian Stock Exchange). On January 10, Boeing said it delivered 152 commercial airplanes in the fourth quarter of last year, up from 99 in the same period last year.
Boeing delivered 480 commercial airplanes in 2022
In 2022, Boeing delivered 480 commercial airplanes, a 41% increase over the previous year. Boeing will release detailed financial results for the fourth quarter on January 25. “We have been working in 2022 to stabilize the 737 production, resume the 787-line deliveries, launch the 777-8 Freighter, and, most importantly, meet our commitments to customers,” Boeing Commercial Airplanes President and CEO Stan Deal stressed.
Strong demand for the entire Boeing product line
While the airline industry “is improving its recovery, we are seeing strong demand across our entire product line, particularly the highly-efficient 737 MAX and 787 Dreamliner,” Deal pointed out, assuring that “we will continue to focus on the stability of our operations and supply chain as we work to satisfy our customers in 2023 and beyond”.
Benefits for Leonardo
In a separate press release, the company reported 774 commercial orders in 2022, after cancellations and conversions, including 561 orders for the 737 line and 213 orders for the company’s twin-aisled aircraft. As of December 31, 2022, Boeing’s backlog counts 4,578 jets. “Boeing’s strong acceleration may benefit Leonardo, which is the sole supplier of the central fuselage section of the 787 Dreamliner,” Banka Akros noted, rating the news positive and confirming its buy rating and 15 euros target price on the stock. The consensus gathered by Bloomberg records 16 buy, 1 neutral, 1 sell ratings, with an average target price at 11.96 euros.
(Source:Class Editori)
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