BOEING (BA) Company Report

Boeing and RAAF’s MQ-28 Ghost Bat executed the first autonomous air-to-air missile engagement, destroying a fighter-class target drone with an AIM-120 missile.
The exercise showcased crewed-uncrewed teaming, with the MQ-28, E-7A Wedgetail and F/A-18F Super Hornet sharing targeting data and authorization procedures.
Mission autonomy solution was developed and fielded in under eight months using open architectures and a digital ecosystem.
The operation was a collaborative effort among Boeing, the RAAF, U.S. Air Force and industry partners.

7 days ago

Press Release

Boeing completes acquisition of Spirit AeroSystems

M&A

Boeing on December 8, 2025 completed its acquisition of Spirit AeroSystems, integrating its commercial and aftermarket operations into Boeing Commercial Airplanes and Global Services.
Spirit Defense is established as an independent subsidiary under Boeing Defense, Space & Security to maintain continuity of U.S. defense and space program support.
The deal brings fuselage production for the 737 program and major structures for the 767, 777, and 787 Dreamliner in-house, and expands Boeing’s spare parts, maintenance, repair, and overhaul services.
Approximately 15,000 Spirit AeroSystems teammates across Wichita, Dallas, Tulsa, and Prestwick will join Boeing.

7 days ago

8-K

Boeing completes acquisition of Spirit AeroSystems

M&A

Boeing completed its acquisition of Spirit AeroSystems on December 8, 2025, integrating Spirit’s commercial and aftermarket operations, including fuselages for the 737, 767, 777, 787, P-8 and KC-46 programs.
The deal brings Boeing’s largest spare-parts supplier in-house and expands its global maintenance, repair and overhaul services footprint as well as its rotable, lease and exchange portfolio.
Boeing established Spirit Defense as an independent subsidiary under Boeing Defense, Space & Security to ensure uninterrupted support for U.S. defense and space programs.
Spirit’s operations in Wichita, Dallas, Tulsa and Prestwick will integrate into Boeing—adding approximately 15,000 employees—while Belfast operations will run as Short Brothers, a Boeing Company.

8 days ago

Press Release

Boeing projects positive cash flow and higher deliveries for 2026

Guidance Update

M&A

New Projects/Investments

Boeing forecasts low single-digit billions in free cash flow for 2026, reversing an expected $2 billion cash burn in 2025.
The upside is driven by increased 737 and 787 jet deliveries, with 737-10 certification anticipated later in the year.
CFO Jay Malave cites reduced undelivered aircraft inventory and improved production cadence as key to achieving the highest annual delivery total since 2018.
Boeing plans to complete its acquisition of Spirit AeroSystems in 2025 to tackle persistent 737 quality-control issues.
The FAA’s removal of pre-sign-off restrictions on certain 737 Max and 787 planes has boosted cash margins and investor confidence.

Dec 2, 2025, 2:41 PM

WSJ

Boeing provides 2026 guidance and program updates at UBS conference

Guidance Update

M&A

Boeing expects 737 and 787 deliveries to increase in 2026 with minimal inventory sales, relying on production rollouts, and anticipates 737-10 certification late in the year (limiting early deliveries).
The company targets low-single-digit positive free cash flow in 2026, up from an expected –$2 billion outflow in 2025, even after a deferred $700 million DOJ payment, driven by higher deliveries, inventory burn-down, and BDS margin improvements.
The 777X program secured TIA-3 approval in November 2025 (covering ~30% of the flight test), keeping the next certification milestone on track for late Q4 2025/early Q1 2026.
Boeing anticipates closing the Spirit AeroSystems acquisition by year-end 2025, immediately paying down $3 billion of Spirit debt, and—with Jeppesen divestiture proceeds—expects a year-end cash balance of ~$29 billion.
Management reaffirms the goal of achieving ~$10 billion annual free cash flow long-term, contingent on rate ramps, completing certifications, and continued BDS and BGS performance improvements.

Dec 2, 2025, 1:00 PM

Transcript

Boeing provides operational update and 2026 cash flow outlook

Guidance Update

M&A

Boeing is stabilizing 737 production at 38 aircraft/month, preparing for a ramp to 42 aircraft/month, and cycling the 787 at 8 aircraft/month; 2026 deliveries are expected to rise with virtually no inventory drawdown, relying on production rollouts.
The company guides to low single-digit positive free cash flow in 2026 despite a ~$700 m DOJ payment slip and ~$2 b delivery-related cash pressure, driven by higher Boeing Commercial Airplanes (BCA) deliveries and margin improvements at BDS and BGS.
A $4.9 b 777X charge will be recognized over aircraft deliveries through the decade, with about $2 b of cash impact in 2026 from delayed delivery milestones.
Boeing plans to restore free cash flow to $10 b annually by mid-decade, contingent on certification milestones, BCA delivery rate ramps, and ongoing margin expansion; major debt maturities include ~$8 b due in 2026, to be paid down with generated cash.
The Spirit AeroSystems acquisition is expected to close year-end, retiring $3 b of Spirit debt on close and leaving Boeing with a year-end cash balance of $29 b post-Jeppesen divestiture proceeds.

Dec 2, 2025, 1:00 PM

Transcript

Boeing outlines production ramp and cash flow guidance

Guidance Update

M&A

Boeing expects to stabilize 737 production at 38 per month, ramp to 42 with no less than six months between rate increases, and cycle 787 production at 8 per month; 2025 737 deliveries are guided to 440–450, including ~50 from inventory, while 2026 deliveries will grow with almost no inventory draws as 737-10 certification delays limit immediate deliveries.
Free cash flow for 2025 is now expected to be a $2 billion outflow (vs. –$2.5 billion) as the DOJ payment shifts into 2026, and Boeing targets low-single-digit billion positive free cash flow in 2026.
The $4.9 billion 777X charge will be expensed over multiple years through the end of the decade, with approximately $2 billion of related cash pressure in 2026 from deferred delivery payments and advance collections.
Following the Jeppesen divestiture, Boeing expects to close the Spirit AeroSystems acquisition by year-end, pay down ~$3 billion of associated debt, and maintain a year-end cash balance of around $29 billion.

Dec 2, 2025, 1:00 PM

Transcript

Boeing to build 96 AH-64E Apache helicopters for Poland

New Projects/Investments

Boeing received a $4.7 billion Foreign Military Sales contract from the U.S. Army to produce 96 AH-64E Apache attack helicopters for the Polish Armed Forces.
Deliveries are slated to begin in 2028, making Poland the 19th global operator and the largest Apache fleet holder outside the U.S..
Under an offset agreement, Polish industry will perform maintenance and support, while Boeing will establish local training programs and a composite laboratory.
The Apache fleet exceeds 1,300 aircraft worldwide, supported by Boeing Global Services’ sustainment and training capabilities.

Nov 26, 2025, 9:27 PM

Press Release

Boeing signs MoU with flydubai for 75 737 MAX jets

New Projects/Investments

Boeing and Dubai-based flydubai signed an MoU for 75 firm orders and 75 options for 737 MAX aircraft, marking flydubai’s fourth MAX purchase.
The agreement will modernize flydubai’s fleet and support its network expansion to over 135 destinations, leveraging the 737 MAX’s fuel efficiency, range and commonality.
flydubai currently operates 96 Boeing 737s and in 2023 placed its first widebody order for 30 787 Dreamliners, underscoring its ongoing fleet growth strategy with Boeing.

Nov 19, 2025, 10:01 AM

Press Release

Boeing: Air Europa Signs MoU for Up to 40 Airbus A350-900

New Projects/Investments

Air Europa signed an MoU at the Dubai Airshow 2025 to acquire up to 40 Airbus A350-900s, ending a five-year exclusive Boeing fleet policy.
The A350-900 delivers up to 9,700 nm range and a 25% improvement in fuel burn, operating costs, and CO₂ emissions over previous-generation aircraft.
The order will replace Air Europa’s long-haul fleet of 11 Boeing 787-8 and 18 Boeing 787-9 Dreamliners to support network expansion, especially in Latin America.
As of October 2025, the Airbus A350 Family has amassed over 1,400 orders from 64 customers, highlighting strong market demand.

Nov 18, 2025, 12:06 PM

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