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Boeing is the world’s most famous manufacturer of aviation, military and space technology. But the corporation began with a tiny factory, where small aircraft were assembled completely by hand.
100 years on top. History of Boeing Corporation.
The history of the company began back in 1916, when The Pacific Aero Products Company was founded on July 15, a year later renamed to the Boeing Airplane Company. It was founded by William Boeing, who with the help of George Westervelt built a B&W seaplane. It featured a wooden structure with linen sheathing, which, however, flew well.
The company was particularly distinguished in 1933 when the Boeing 247 passenger aircraft was developed. The model turned out to be reliable, simple and safe, although not without a number of drawbacks. It was a ten-seat twin-engine all-metal aircraft with a retractable landing gear. Airplanes of this model were destined to reveal sad statistics — on October 10, 1933, an explosion occurred on board one of them (a regular Chicago-Cleveland flight). This was the first terrorist act in the history of aeronautics.
In June 1938, the Boeing 314 Clipper was created — a seaplane designed specifically for transatlantic transportation. This aircraft could carry 90 passengers on board. It was ordered by Pan Am (Pan American World Airways). Gradually the time is approaching when the aircraft completely displace the ships in the matter of passenger transatlantic transportation. In the same year the all-weather aircraft of the company appeared — the “truck” Model 307 Stratoliner.
Like many other companies, during World War II, Boeing not only did not reduce production, but even vice versa — expanded it. But instead of civil aviation, military aircraft were assembled at the plants, up to 350 units a month. Basically, these were B-17 bombers (known as the “Flying Fortress” — they were actively used for patrolling, bombing, and also to fight German submarines) and B-29 (these planes were used in the bombing of Hiroshima and Nagasaki).
After the war, the production was drastically reduced, which lead to factories closing and personnel firing. Based on the same B-29, a passenger plane was hastily created. However, since then, military orders have become commonplace for Boeing.
The further history of the company is the story of many successful and not too much developments. Both military and civilian, but overall, Boeing did well. The company’s developments were actively used in space projects — such as Apollo and Space Shuttle. In the period from the 60s to 90s, such legendary aircraft models as the Boeing 737, 747, 757 were created.
Shares of Boeing.
Today, the corporation includes two divisions. These are Boeing Commercial Airplanes, a civilian aviation and Integrated Defense Systems company in charge of the military and space sectors.Additionally, there are organizations such as Boeing Capital Corporation — financing issues, Shared Services Group — infrastructure support, as well as Boeing Engineering, Operations & Technology, engaged in research, technology and their implementation.
Boeing has one of the highest capitalization in North America, so many investors are considering buying shares in this company.
Accidents with 737 MAX aircraft in 2018 damaged the company’s reputation, and Boeing (BA) earnings evaporated as supplies and production of the 737 MAX were suspended.
At the end of February 2020, Boeing’s earnings per share grew by an average of 0% over the past three years, according to Ibd Stock Checkup. In the fourth quarter, Boeing lost $2.33 per share, compared with a profit of $5.48 per share a year ago.
Revenue declined by an average of 3% over the past three years. In the fourth quarter, the top line fell 37% to $17.91 billion, as shipments of 737 MAX were suspended. Revenue for the commercial aircraft division fell 67% to $7.5 billion, while shipments fell 67% to 79 aircraft.
In 2019, the company delivered 380 aircraft, which is significantly lower than the record 806 deliveries in 2018. Boeing did not have a single order in January 2020, as the 737 MAX crisis continues, marking the first of January since 1962, when the aerospace giant showed zero.
Conclusion
The history of Boeing is a story of ups and downs. Nevertheless, experienced investors successfully profit from trading in stocks of the company, regardless of the circumstances. Pocket Option trading platform provides the ability to trade on Boeing Company shares around the clock on any day of the week.
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