Last Friday, Boeing Co. (NYSE:BA) announced the completion of its first flight KC-46A, its aerial refueling tanker. The testing and evaluation of the plane will finish within a four-month span. According to the requirements, Boeing has to deliver the first 18 planes to the Air Force by August 2017.
Bidness Etc takes a look at two of the biggest developments at Boeing, with regard to its KC-46A refueling tanker, and its progress in China.
Boeing’s pilots conducted operational tests on the engines, flight controls, and environmental systems. The aircraft will have to pass refueling milestone with at least five different air forces. The entire program is worth $94 billion. Previously, it faced schedule delays and other cost-related issues.
Earlier this month, it was observed that the KC-46A program is making progress. The program’s success depended on Congress’ decision to pass the legislation relating to funding the federal government. Failure on the Congress’ part may have forced the Air Force to break its contract with Boeing on the KC-46A program. However, the company did not face any such issues.
The airline company has also successful penetrated the Chinese market, with a deal to sell 300 aircraft to three local companies. This makes Boeing the first American airline to form ties with China, following President Xi Jinping’s visit to the US. In August, the company expected an increase in Chinese airplane demand. The firm projected that China will need around 6,000 aircraft in the next 20 years.
The stock traded at $128.45, as of 3:54 PM EDT, and showed a 1.09% year-to-date (YTD) decline. It had a 52-week range of $115.14-158.83, with a market capitalization of $88.20 billion. Bidness Etc expects Boeing to rally up in the long run due to the two aforementioned developments.
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Source
http://www.bidnessetc.com/53715-major-developments-at-boeing-co-ba/
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