Boeing Company (BA) has won a $1.6 billion order from Turkish Airlines. The company will supply 20 airplanes of the 737 series. Half of this would be 737-800s and the other half 737-900ER (Extended Range) airplanes.

Based in Istanbul, Turkish Airlines currently operates a fleet of 66 Boeing airplanes Incorporatedluding 58 Next-Generation 737s. It ferries approximately 25 million passengers a year, with direct flights to 120 international and 37 domestic destinations.

Boeing’s 737-900ER airplane is the newest member of the 737 family, combining aerodynamic and other design changes to accommodate up to 215 passengers comfortably while retaining the flexibility and efficiency of the Next-Generation 737 family. The airplane is pitted against Airbus’ A321 series.

Headquartered in Chicago, Boeing is the world’s largest manufacturer of commercial jet liners and military aerospace products (based on total sales). Boeing designs and produces commercial airplanes, defense systems and civil and defense space systems.

Boeing is also the largest NASA contractor. Non-airplane products include helicopters, electronic and defense systems, missiles, satellites, rocket engines, launch vehicles, and advanced information and communication systems.

Boeing is one of the best-positioned companies among its defense peers by virtue of its balanced exposure to commercial aircraft and defense equipment. Peers such as Lockheed Martin Corporation (LMT) and Northrop Grumman Corporation (NOC) dabble only in defense equipment.

Going forward, we believe a $316 billion order backlog, strong order booking and a globally diversified customer base will help maintain Boeing’s growth momentum. However, the momentum could see meet headwinds from a bearish commercial aerospace market, fears over growth in defense spending and delays in the launch of 787. Thus we are Neutral on the stock at this time.

Zacks Investment Research

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