Here's Why Airbus Shares Took Off Today
Shares in aerospace giant (OTC: EADSY) rose by as much as 3.1% in early trading as the Paris Air Show concluded for industry professionals (it remains open to the public until Sunday). Airbus had a lot to say and $21 billion in orders to announce , but unfortunately, its great rival, (NYSE: BA), had very little to say.
While Boeing didn't release an official statement on the matter, it's widely reported that Boeing scaled down its participation and elected not to announce new orders following a recent Air India crash involving a Boeing 787 Dreamliner. Boeing had previously announced it would offer full support for the investigation currently taking place.
Consequently, Airbus took center stage in the commercial aerospace industry, announcing $14.2 billion in firm orders and a further $6.7 billion under memoranda of understanding (MoUs).
Source Fool.com
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