Boeing (BA) CEO Muilenburg Details New Jetliner to Bloomberg's Johnson
Bloomberg News
NEW YORK (TheStreet) -- Boeing (BA) - Get Report CEO Dennis Muilenburg discussed the production of the aerospace company's largest twin-engine jetliner, the 777X, with Bloomberg's Guy Johnson on "Bloomberg Markets" Monday.
"The 777X is going to be a great airplane for the marketplace and our customers are excited about that," Muilenburg told Johnson.
The company is "moving briskly" through the development stages, he added.
However, since Boeing is in the "meat" of development on the 777X, the company can still make adjustments to the plane's design on a "customer driven" basis, Muilenburg said.
For example, some customers have asked about the "stretch, 10X" version of the 777X which Muilenburg estimated is "doable."
Boeing aims to sell 50,000 of the older 777 airplane and reduce its production down to seven per month to accommodate for the 777X, according to Muilenburg.
Today, Boeing predicted that airlines will order $5.9 trillion of new aircraft over the next two decades to keep pace with a spike in air travel. The first delivery of the 777X, projected to seat between 350 and 375 passengers, is expected to ship in 2020.
Meanwhile, Muilenburg does not foresee any major Brexit impacts on Boeing's long-term plans and the company is moving ahead with the legal procedures to start selling aircraft to Iran.
Shares of Boeing closed higher by 1.5% to $132.04 today.
Separately, TheStreet Ratings rated Boeing as a "buy" with a score of B.
This is driven by several positive factors, which can be seen in multiple areas, such as its revenue growth, notable return on equity and good cash flow from operations. TheStreet Ratings feels its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.
You can view the full analysis from the report here: BA
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.