Boosting (BA) - Get Boeing Company Report its long-term forecast for China aircraft demand, Boeing said China would likely need 8,700 new airplanes over the next two decades, a figure that translates to overall sales of around $1.47 trillion.
The aircraft manufacturer added that a further $1.8 trillion will likely be needed to service both its existing and future fleet additions over the next 20 years, TheStreet's Martin Baccardax reported.
Jim Cramer told Action Alerts PLUS senior analyst Jeff Marks that Boeing has become a "press release company."
"Boeing is a company that is trying to fix its image and not trying to fix its product," Cramer said. "The idea of Boeing being the greatest manufacturer in the country, which is what I thought, is no longer true."
Recap TheStreet Live: Everything Jim Cramer Is Watching 9/23/21
Boeing is a holding in Jim Cramer's Action Alerts PLUS charitable portfolio.