Published on 22.03.2024

Boeing Stock

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Boeing's IPO

On January 2nd, 1962, Boeing was listed on the New York Stock Exchange (NYSE) under the ticker symbol BA. The stock opened that day at a price of $0.823. Despite significant price fluctuations, Boeing's stock has proven to be a good investment for its original shareholders. Since its IPO, Boeing's stock price has increased by 23,045.8% as of January 2023.

Company strategy and future

Between 2018 and 2019, Boeing experienced a turbulent period because two Boeing 737 Max’s crashed. Since then, the company has aimed to regain some stability. It is crucial for their future that the modified 737 MAX are to be allowed back in the air. This has already happened in some regions like the United States (US), Europe, China and many other major markets. Additionally, Boeing is committed to restoring the damaged trust between the aircraft manufacturer and the US aviation authorities. Meanwhile, the company also had to deal with the Covid-19 crisis, which led to a decline in air travel and fewer aircraft orders from airlines. To navigate through this challenging period, the company had to cut thousands of jobs. However, Boeing remained optimistic that both business and leisure flights would recover rapidly in the coming years as global vaccination rates increased.

Fatal crashes involving the Boeing 737 MAX

Boeing's reputation had taken a significant hit after two plane crashes happened in 2018 and 2019 in Indonesia and Ethiopia. This unfortunately caused a total of 346 deaths. Consequently, airlines decided to ground the Boeing 737 MAX indefinitely, and aviation authorities worldwide imposed a flying ban on the aircraft. The crashes were caused by Boeing's software that pushed the nose of the plane downward, among other factors. Boeing has since resolved the issues, and the MAX is gradually flying again in some countries. However, the company is also facing technical problems with its 787 Dreamliners and their latest aircraft, the 777x. The development of the 777x has been delayed for many years and is expected to enter the market in mid or late 2023.

Boeing's history

Boeing was founded on July 15th, 1916, by William Boeing in Seattle, Washington, under the name Pacific Aero Products Co. The first test flight of the Boeing Model 1 took place just one month before it was founded. Boeing built this seaplane in his boathouse near Lake Union in Seattle. He made it in collaboration with George Conrad Westervelt, an engineer from the US Navy. In 1917, they decided to change the company's name to Boeing Airplane Company. In the 1920s and 1930s, Boeing primarily built bombers and fighter planes for the US Air Force and Navy in addition to aircraft for mail delivery.

On February 8th, 1933, the Boeing 247 made its first test flight. This aircraft is considered the world's first modern passenger plane. The model had two engines, retractable landing gear and was entirely made of metal. It certainly wasn't the last time Boeing introduced a revolutionary aircraft.

After successful test flights, the Boeing 747 'jumbo jet' was officially put into commercial service for the first time on January 21, 1970, flying from New York to London. With its four engines, the 747 had a much larger range than its competitors and could transport more than twice as many passengers. Thanks to the increased number of passengers, the price of air tickets decreased significantly, making air travel more affordable for a larger group of people. Boeing, therefore, played a major role in proliferating global mass tourism.

With its four engines, two floors and two aisles, the 747 was groundbreaking and became the new standard in commercial aviation. The aircraft has been a tremendous success. Since 1970, Boeing has sold over 1,500 units, generating an estimated revenue of over $100 billion. An increasing number of airlines prefer smaller, twin-engine aircrafts, which are more fuel-efficient than jumbo jets. Examples include the Airbus A350 and the Boeing 787 Dreamliner. Similarly, Airbus, Boeing's European competitor, decided to cease production of its four-engine A380, the largest passenger aircraft in the world, due to disappointing sales figures.

The information in this article is not written for advisory purposes, nor does it intend to recommend any investments. Please be aware that facts may have changed since the article was originally written. Investing involves risks (e.g price volatility, currency or liquidity risk). You can lose your invested funds. Consider your knowledge and experience when making investment decisions. Past performance is not a reliable indicator of future results. Markets are volatile and can fluctuate significantly due to economic, political, regulatory, or other developments.

Sources: Boeing, Bloomberg, CNET, Reuters

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