Boeing looks like they are on track to grow their business even more this quarter. Reuters reports that:
Boeing Co (BA.N) said on Thursday its deliveries rose 7.4 percent in the third quarter, helped by higher demand for its single-aisle 737 jetliners.
The news comes shortly after Boeing emerged from a battle with Canadian manufacturer Bombardier over the latter’s attempt to push in on Boeing’s’ market share. The President imposed tariffs on the Canadian company to protect another American company. It looks like Boeing are now reaping the rewards.
Bombardier, on the other hand, has been forced to explore new opportunities in Asia to try and restore itself after the massive setback:
Bombardier last week finalised a deal to sell up to 50 Q400 planes to India’s SpiceJet (SPJT.BO) valued at $1.7 billion by list prices, its largest single order to date for the turboprop plane which will boost its presence in the country.
We will have to wait and see if Bombardier can make up the difference in Asia. Bombardier was given a massive grant ($2.5 billion) by the provincial government to keep them afloat and tax payers are concerned that the money could be going to waste.
To read Reuters’ report on Boeing’s increased sales, click here.
To read Reuters’ report on Bombardier’s expansion into Asia, click here.
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