Qatar Airways is mulling a potential order of thirty freighters from Boeing (NYSE:BA) as the global economy recovers from the COVID-19 recession. Boeing stock price is up 16.94% YTD.
Here are a few reasons why one may want to buy Boeing stock.
Firstly, the pandemic-led recession is coming quickly to an end. As the economies worldwide reopen, the international mobility and economic activity picks up. The Qatar Airways order is just a confirmation that the recovery is on track, and strong growth leads to companies expanding their operations.
Secondly, Boeing’s revenue estimate is close to $80 billion by the end of the year, and $90 billion by the end of 2022, on a rising trend.
Finally, the aviation industry, while heavily hit by the pandemic, is still forecasted to grow by 7.6% CAGR by 2026. It is projected to reach $303 billion in five years, and Boeing stands to benefit from the industry’s growth potential.
Where Can I Buy Boeing (NYSE:BA) Stock?
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Why Should I Invest in Boeing Stock?
Boeing was one of the companies strongly impacted by the COVID-19 pandemic. As the world entered lockdown, mobility restrictions led the aviation industry to contract significantly. However, Boeing runs a well-diversified business in the aerospace and defense industry, operating in areas such as human space flight, military aircraft, or missile defense. Yet, the manufacturing of commercial jetliners is a big chunk of its operations and suffered from the pandemic-led recession.
Boeing is based in Chicago, Illinois, and employs over 140,000 people worldwide.