19.06.2020 Boeing Daily Analysis

19.06.2020 Boeing Daily Analysis

Boeing today is trading at $192.29; it is trading lower with $0.25 mainly because Boeing and Spirit AeroSystems have largely disbanded engineering teams designing Aerion Supersonic AS2 business jet as both companies look to conserve cash during the COVID-19 pandemic. The situation will also delay the first flight of the $120M, Mach 1.4 business jet by a year to 2025. Boeing made a "significant investment" in Aerion last February to "unlock supersonic air travel for new markets" and "build the future of sustainable supersonic flight." More so, VSMPO-Avisma one of the world's largest producers of titanium for Boeing and Airbus is considering temporary suspension of production in September if the business does not improve, its acting chief executive said.