Why Boeing Shares Are Soaring Higher Today

Boeing (NYSE: BA) has inked a new plane order from Delta Air Lines (NYSE: DAL) worth upwards of $13 billion, and its stock is up as a result. Shares of Boeing traded as much as 5% higher on Monday morning.

Boeing has been flying through turbulence for three years now. Shares of the aerospace giant have lost more than half of their value since the beginning of 2020 due to engineering issues and the pandemic's impact on airlines. With fewer people flying through much of 2020, there wasn't much demand for new airplanes.

On Monday, Boeing secured a big customer win. Delta, which has mostly done business with Boeing archrival Airbus (OTC: EADSY) in recent years, has placed an order for 100 Boeing 737 MAX jets with an option for 30 more. Delta likely will pay well below list price for an order this size, but at list price the deal is worth more than $13 billion to Boeing.

Source Fool.com