11.05.2020 Boeing Daily Analysis

11.05.2020 Boeing Daily Analysis

Boeing today is trading at $132.41 it fell with $1.03 from $133.44. This is mainly because Qantas Airways Ltd announced on Monday that it will not take delivery of any new planes from Airbus SE and Boeing in the near term as it grapples with the plunge in demand due to the coronavirus pandemic. Boeing was to deliver three 787-9 jets to Qantas Airways fleet by the end of 2020, However, according to Qantas spokesman,  there is no longer a specific timeline for them to be delivered because the market is too uncertain. Many carriers around the world have grounded the bulk of their fleets and halted aircraft deliveries in response to the pandemic, leading Boeing and Airbus to cut production rates. However, Boeing is yet to respond and comment on the delivery schedules.