Why Shares of Boeing Are Up Today
Shares of Boeing (NYSE: BA) got a lift on Tuesday after major customer Southwest Airlines (NYSE: LUV) said it was working with the aerospace giant on a plan to return the grounded 737 Max to service. Boeing shares traded up about 5% mid-morning.
Airlines have been hit hard by the pandemic, which has cut travel demand by upwards of 90%, and that is sure to impact new plane sales as well. The slowdown comes at a particularly difficult time for Boeing, which has seen its cash balance drained due to ongoing issues with the 737 Max and faces questionable demand for the once sought-after plane if and when it does get the aircraft flying again.
Image source: Boeing.
Source Fool.com
