UK's $10 Billion Boeing Deal: A Sky-High Transaction

The UK will purchase $10 billion worth of Boeing planes as part of a new trade deal with the US. This move contributes to the UK's existing backlog of 149 Boeing planes, amidst ongoing delivery challenges due to supply chain issues affecting planemakers.

The United Kingdom's aviation sector is poised for a substantial boost with a $10 billion purchase of Boeing planes, as confirmed by U.S. Commerce Secretary Howard Lutnick during the announcement of a trade deal between the UK and the US.

The details of the purchase remain vague, but it adds to the already significant backlog of 149 Boeing planes that UK companies have ordered. Airlines and leasing companies are part of this backlog, totaling an estimated $12 billion worth in pending deliveries.

This purchase comes amid ongoing complications in the aerospace industry, including supply chain issues that have delayed Boeing's production schedule. Despite these challenges, Boeing's shares saw an uptick following the announcement, rising by 4.4% at midday.

(With inputs from agencies.)