Boeing Stock Falls; Ryanair Ends Talks to Buy More 737 Max Jets

By Tony Owusu

Shares of Boeing  (BA Get Boeing Company Report were lower after the European airline Ryanair ended talks for a major follow-on order for the Chicago aerospace giant's 737 Max aircraft. 

Ryanair, which has been one of the biggest buyers of the 737 Max, said it could not agree on a price with Boeing for the order. 

“We have a disciplined track record of not paying high prices for aircraft,” Ryanair Chief Executive Michael O'Leary said in a note on Monday. "Both sides have agreed to waste no more time on these negotiations."

Shares of Boeing at last check were 0.8% lower at $216.40. 

Ryanair has already ordered 210 of the smaller Max-8200, with deliveries expected over the next five years, according to Bloomberg. 

Ryanair has been pressuring Boeing on the 737 Max for months. 

In May, the company criticized Boeing for delaying the delivery of 200 737 MAX 8 aircraft after regulators in early April certified the high-density version of the jet. 

At the time, Ryanair said it had no confidence that Boeing would deliver any of the aircraft in time for the expected surge in air travel during the summer months. 

"We are quite upset with Boeing that eight weeks later we’re still waiting for the first delivery. We’re being told by [Boeing] will be in late May, but I’m not sure we necessarily believe that," O'Leary said at the time, according to Airline Weekly.

In late August, the company said it did not expect to deal with Boeing this year on a new order, but said that the company could order up to 250 of the 737 Max jets if the price were lowered. 

Boeing is a holding in the portfolio of Jim Cramer's Action Alerts PLUS investing club. Want to be alerted before Jim Cramer buys or sells BA? Learn more now.


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