Because Leonardo flies on the Boeing 787
Leonardo's stock is on the rise in Piazza Affari thanks to the imminent green light to Boeing for the resumption of deliveries of the 787. All details
Boeing could soon resume deliveries of the 787 and puts Leonardo's shares on the back burner.
"Leonardo continues on the path of recovery after the crash of last week, when analysts had accepted the accounts without enthusiasm, and with an increase of more than two points it is the best in Piazza Affari (-0.6% the Ftse Mib)" reports Radiocor .
The stock, which is currently growing by 0.97% to 9.36 euros per share, after hitting a daily high of 9.576 euros, benefits from Boeing's rally on Wall Street (+ 6.1% yesterday), after the press rumors that the Federal Aviation Authority (FAA), the American regulator of the aviation sector, could soon give the green light to the resumption of deliveries of the B787.
The planes were blocked for more than a year due to quality problems, which the American giant had to solve. According to press reports, the FAA judged Boeing's corrective actions satisfactory. However, the agency will still inspect the aircraft first before they are delivered to customers.
Boeing said last week that it aimed to return to producing five Dreamliners per month, down from the 14 per month it was assembling before the pandemic. But still good news for Leonardo. The Grottaglie plant, which belongs to the Aerostructures division of the group led by Alessandro Profumo , builds two sections of the carbon fiber fuselage for the Boeing 787.
All the details.
IMMINENT GOAL FROM THE FAA FOR BOEING
Boeing submitted a plan to the Federal Aviation Administration this spring to inspect and repair those problems on the B787s. And according to press sources, on July 30, the FAA approved Boeing's inspection and modification plan to resume deliveries of the 787 Dreamliners.
A move that should allow Boeing to resume deliveries in August after suspending them in May 2021. The aircraft manufacturer only resumed deliveries in March 2021 after a five-month hiatus before stopping them again. The approval on Friday comes after long discussions between the American manufacturer with the FAA.
THE COMMENT OF BANCA AKROS
"The news is positive for Leonardo, since the group supplies Boeing with large sections of the fuselage of the B787", underline the analysts of Banca Akros, recalling that "before 2020 the execution rate was 14 pieces per month, while now is 2 pieces per month ".
The experts, who confirmed Boeing's "buy" with a price target of 15 euros per share, also explain that "the resumption of 787 deliveries is positive for both Boeing and Leonardo also because fuselage prices will rise in the future. although it will take some time before the business becomes profitable ”.
According to Equita, which confirms the “buy” valuation with a price target of 12 euros per share, this is news “in line with expectations”.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/smartcity/perche-leonardo-vola-sul-787-di-boeing/ on Tue, 02 Aug 2022 14:08:28 +0000.