RTTNews | Nov 26, 2021 10:49AM EST

10:48 Friday, November 26, 2021 (RTTNews.com) - American airplane manufacturer, The Boeing Company (BA), saw its shares drop 7% in the Friday market after Canada told the company that its bid for making fighter jets for the country has fallen short, making the company lose out on a multi-billion dollar tender.

After Boeing's exit, Lockheed Martin and Saab AB are the only bidders left to win the contract to supply the country with 88 fighter jets for C$19 billion or $15 billion. Boeing's F-18 Super Hornet was deemed to go to the next round with Lockheed Martin making the final showdown an all-American hustle. According to reports, this can be a rebuttal from Canada after Boeing famously accused Ottawa of favoring a local company, Bombardier, against Boeing by subsidizing their ticket prices.

Following the news, the stock is trading at $196.50, down $14.10 or 6.70% from its previous close at $210.60. The stock opened at $197.57 in the morning. In the 52-week period, the shares have ranged between $191.85 and $278.57.

Read the original article on RTTNews ( https://www.rttnews.com/3245085/boeing-loses-7-after-bid-for-canadian-fighter-jet-falls-short.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved