Aircastle and BE Aerospace trade strongly, manufacturers have a quite day – Suppliers Share Wrap
Other lessors were more muted in trading on Wednesday, with Aercap and Genesis Lease up 0.3% and 0.5% respectively, while Babcock and Brown Air slipped just 0.1%.
B/E Aerospace finished the day 1.2% higher, hitting a 13-month high at USD23.98 per share. The stock has been trading steadily upward for the past two weeks.
Better news for Airbus and Boeing
Aerospace stocks have reacted well to good news from Airbus and Boeing, which have flown their long-delayed A400M and B787 aircraft for the first time this month.
Airbus is finishing the year with a flourish, announcing an order for 30 A320s from Chile's LAN Airlines yesterday. The order adds to the 15 A330s ordered by Malaysian Airlines and puts Airbus just 30 aircraft short of its target of 300 gross orders for 2009, a remarkable achievement given the USD11 billion in losses forecast for the airline industry this year and the USD5.6 billion loss forecast for 2010.
Shares in EADS, parent of Airbus, rose just 0.2% on Wednesday. Boeing was down 0.3%, while Embraer was up 2.1% after announcing a series of smaller aircraft deals, including several business jets and regional jets.
Selected Aviation suppliers daily share price movements (% change): 23-Dec-09