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3/31, 12:49 AM (Source: TeleTrader)
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US Navy awards Boeing $1.5B in P-8A contract

The Boeing Co. entered a contract with the United States Navy, worth $1.5 billion for making the next 18 P-8A Poseidon aircraft.

Per the contract, the aerospace giant will produce eight of the aircraft for the US Navy. Additionally, the company will also make six aircraft for the South Korean Navy, and four for the Royal New Zealand Air Force, who acquired the planes through the Foreign Military Sales process, and expect to start receiving the goods in 2022.

Boeing traded 1.06% in the after-hours trade on Monday.

Breaking the News / NL