Sam Boughedda

Investing.com — Boeing Co (NYSE:) shares have been given a welcome boost Tuesday, rising 5% on news that it has received an order for 19 767 freighters from package delivery company United Parcel Service Inc (NYSE:).

Boeing shares trade around $198.21. They are expected to drop 7.5% by 2021. UPS shares have risen more than 2.5% currently

Boeing claimed that this order was due to rising demand for air cargo, which is a result of an increase in the express cargo and ecommerce markets. 

Despite Boeing’s difficulties since the outbreak of the pandemic in 2001, 2021 saw record freighter sales. This included 80 firm orders to purchase new widebody cargo planes and more than 80 for Boeing Converted Freighters. UPS has enjoyed a significant increase in its stock price and sales, despite the fact that it suffered from the pandemic. 

 “Our plan to purchase 19 aircraft and take delivery between 2023 and 2025 aligns with the strategy and capital expenditure forecast shared during our June 2021 Investor and Analyst Day. Nando Cesarone from UPS U.S. Operations said, “It also supports sustainability efforts by improving our fleet efficiency and increasing reliability.”