Shares of Boeing Co. BA got a 0.8% boost toward a one-year high in morning trading Tuesday, after the aerospace giant said it was selected by Air India to provide up to 290 jets. The stock, which was on track for the highest close since Feb. 16, 2022, paced the Dow Jones Industrial Average’s DJIA gainers. Air India said it planned to invest in 190 Boeing 737 MAX jets, 20 787 Dreamliners and 10 777X jets. The air carrier also has options for 50 additional 737 MAXs and 20 787-9s. “Air India’s selection of Boeing’s family of passenger jets shows their confidence in our products and services in the world’s fastest growing aviation market, and their decision will support engineering and manufacturing jobs at Boeing factories in Washington state, South Carolina and across our supply base,” said Stan Deal, chief executive officer of Boeing Commercial Airplanes. Boeing’s stock has soared 25.2% over the past three months, while the Dow has edged up 1.4%.
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