Shares of Boeing Co. BA, +0.26% gained 0.6% in premarket trading Thursday, after the aerospace and defense giant said it received an order valued at $1.4 billion from China Airlines. The order is for four Boeing 777 Freighters, as the airline looks to take advantage of the continued growth in global air cargo demand. In 2021, China Airlines’ air cargo revenue nearly tripled (up 186%) above pre-pandemic 2019, which nearly offset the 96% drop in passenger revenue. “The 777 Freighter has played a critical role in our efforts to maintain profitability during the pandemic, and these additional airplanes will be an integral part of our long-term growth strategy,” said China Airlines Chairman Hsieh Su-Chien. Boeing’s stock has dropped 6.0% over the past three months through Wednesday, while the Dow Jones Industrial Average DJIA, +1.25% has lost 3.7%.
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