Nov 13 (Reuters) - Shares of Boeing (BA.N) rose on Monday after a report said China was considering ending its freeze on purchases of the planemaker's best-selling 737 MAX aircraft after more than four years.
This, coupled with bumper jet orders from Middle Eastern airlines at the Dubai Airshow, sent Boeing shares up 4%. Supplier Spirit Aerosystems (SPR.N) also rose 2.7%.
China is considering resuming purchases of Boeing's 737 MAX aircraft when the U.S. and Chinese presidents meet this week at the APEC summit, Bloomberg News reported on Sunday, citing people familiar with the matter.
The resumption of 737 orders from China would be meaningful to Boeing's bottom line over the next six to 18 months, said Thomas Hayes, chairman of hedge fund Great Hill Capital.
Deliveries of Boeing's bestselling 737 MAX to Chinese airlines were halted following two deadly crashes.
|