Boeing: In the thick of the action

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  Wolfgang Hagl
  Redaktor

The situation in the USA at Easter 2026 could hardly be described more aptly: According to the “Süddeutsche Zeitung”, the American public is in split-screen mode. On the one hand, there are spectacular images of “Artemis II”. A four-person crew has orbited the moon and is now on its way back to Earth. At the same time, images of an angry president are running on a kind of continuous loop in the US media. Donald Trump escalated the war with Iran for days before a ceasefire was finally reached last night.

Boeing is one of the companies involved in both sides of the symbolic split screen. The aerospace company built the core stage of the Space Launch System (SLS) on behalf of the US space agency NASA. The four astronauts were transported into space with this huge launch vehicle. Boeing is also an important supplier to the US military. In the “Defense, Space & Security” division, the two lines of business come together – and are growing strongly: in the fourth quarter of 2025, revenue was USD 7.4 billion, more than a third higher than in the same period of the previous year. At the same time, the segment was able to significantly reduce its operating losses.

Smoother trajectory

The Group’s bread and butter business is civil aviation. Boeing has been struggling with turbulence here for years. What began with the crashes of two 737 Max aircraft led to the collapse of air traffic during the pandemic, subsequent problems in the supply chains and intense labor disputes, resulting in a veritable crisis. Gradually, CEO Kelly Ortberg seems to be steering the traditional company onto a calmer course. This includes getting the problems in production under control. At the end of 2025, 42 units of the 737 Max were leaving the assembly halls each month, while eight Boeing 787s were undergoing final assembly. Ortberg wants to increase production to 47 737 Maxes and ten 787s this year.

The financial performance has also improved. Although Boeing still recorded a cash outflow of just under USD 1.9 billion for the 2025 financial year, free cash flow was already positive in the fourth quarter. CFO Jay Malave forecast a cash inflow of USD 1 billion to USD 3 billion for the current year. The management did not initially provide any further guidance. This could change in two weeks’ time. On April 22, Boeing will publish its interim report for the first quarter of 2026. At the same time, the company will host a call with the CEO and CFO. According to an announcement, the two top managers will discuss “the results and the company outlook”.

Investment Solution

The technical chart picture brightened shortly before the pay date. Boeing is trying to overcome a short-term downward trend. The large cap is facing striking resistance in the USD 215/20 range. The 200-day line runs alongside a horizontal hurdle. Traders can consider an upward breakout with the mini-future long MBABJV. The Vontobel security participates in rising Boeing prices with a current leverage of 4.9. Caution: Should the share again experience turbulence, disproportionately high losses are to be expected.