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Since the Dubai Air Show ended last week, Boeing's stock has soared, increasing by around 5% from Friday to Tuesday.
The increase in prices, as well as that of Airbus, seems to have helped Spirit AeroSystems, as well.
Rising from a closing sale of $207.81 at 8 p.m. Friday and settling in at $218.86 by 9:51 a.m. Tuesday, the aircraft manufacturer's stock continues to increase.
On Monday, NASDAQ reported Deutsche Bank upgraded its Boeing (NYSE: BA) stock status from hold to buy. According to NASDAQ, there was an increase of 15 owners, with more than 2,900 funds or institutions reporting positions. Capital Research Global Investors was one of the groups that increased its portfolio in the last quarter, according to NASDAQ.
Wichita-based Spirit AeroSystems (NYSE: SPR), which makes the fuselage for several Boeing jets, also noticed a steady incline in stock prices. After closing the day at 8 p.m. Friday at $24.65, the stock rose to $25.66 by 9:55 a.m. Tuesday, increasing by slightly less than 2%.
Airbus also saw an increase in stock prices at the beginning of the week, rising from $36.01 at 4 p.m. Friday to hitting $36.53 by 11 a.m. Tuesday, showing a 3% increase in five days. Parts of several Airbus aircrafts are manufactured by Spirit AeroSystems, as well.
At Dubai, Boeing scored more sales than Airbus, with Boeing obtaining 295 orders and Airbus hitting 86, with airlines from Ethiopia, Oman, Jordan, Dubai, the United Arab Emirates and Saudi Arabia among the recent list of customers.
Spirit AeroSystems, Wichita's largest employer, supplies fuselages and other components to both manufacturers.
In the days leading up to the Dubai Air Show, Boeing's vice president of commercial marketing, Darren Hulst, addressed in a news release the growth of the airline industry in the Middle East. Over the next 20 years, Boeing said in a release on Nov. 12 it forecasts widebody airplanes to comprise 45% of deliveries to airlines in the region. This is the highest percentage of the 10 global regions featured in Boeing's Commercial Market Outlook forecast.
"Airlines in the Middle East have increasingly expanded their influence and reach, transforming the region into an international air transit hub," Hulst said in a release. "Air travel and cargo demand continue to gain momentum, driven by significant economic growth and national development plans. As airlines in the region will require efficient and versatile fleet solutions, Boeing products will be ready to meet market demands."