Benzinga | Nov 15, 2021 11:20AM EST

Why Boeing Shares Are Taking Off Today

Boeing Co (NYSE:BA) is trading higher Monday after the company announced Emirates ordered two Boeing 777 freighters.

The freighters will be operated by Emirates SkyCargo. The order is valued at more than $704 million at list prices.

"We are honored that Emirates has once again placed its confidence in the 777 Freighter as the backbone of its global network," said Ihssane Mounir, senior vice president of commercial sales and marketing at Boeing.

Boeing and Russian titanium producer VSMPO-AVISMA announced they signed a Memorandum of Understanding (MOU) affirming VSMPO-AVISMA will remain the largest titanium supplier for current and future Boeing commercial planes.

"Today we mark another important step in expanding our mutually beneficial cooperation with VSMPO-AVISMA," said Stan Deal, president and CEO of Boeing Commercial Airplanes. "VSMPO-AVISMA has been a reliable and valuable partner to Boeing for almost 25 years."

Boeing also announced that Saudi Arabian Airlines selected the company for a suite of services to improve their 787 Dreamliner and 777 fleets' operational efficiency through digital analytics, as well as to modify the 777 cabin interiors.

See Also: Notable Boeing Insider Makes $220K Sale

BA Price Action: Boeing has traded as high as $278.56 and as low as $176.25 over a 52-week period.

The stock was up 3.24% ast $228.13 at time of publication.

Photo: courtesy of Boeing.