Boeing Shares Rise On Chopper, Delta Contracts
NEW YORK (AP) -- Shares of Boeing Co. rose Monday after the aircraft maker said it won a $1.64 billion helicopter contract and media reports suggested that Delta Air Lines Inc. is planning to buy 100 Boeing 737 jets.
THE SPARK: The helicopter contract from the UK Ministry of Defence calls for Boeing to provide 14 new Chinook helicopters and five years of related support to the Royal Air Force.
The order is part of the RAF's plan to modernize its helicopter fleet and expand its Chinooks to 60. The new aircraft will be produced at Boeing's plant in Ridley Township, Pa., near Philadelphia. They're scheduled to be delivered between 2013 and 2015.
Also Monday, media reports said that Delta Air Lines Inc., the world's second-largest airline after United Continental Holdings Inc., plans to order 100 Boeing 737 jets. The deal's potential value, based on list prices of the single-aisle jets, is $8.58 billion.
SHARE ACTION: Boeing shares rose $1.05 to $58.59 in afternoon trading, after earlier hitting as high as $59.30.