Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

THE BOEING COMPANY

(BA)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Boeing told its bid to sell fighter jets to Canada did not meet Ottawa's requirements

11/25/2021 | 03:51pm EST

OTTAWA — The federal government has told Boeing that its bid to replace Canada’s aging CF-18s with a new fleet of the American company’s Super Hornet fighter jets did not meets its requirements.

Three sources from industry and government say the message was delivered Wednesday as the other two companies competing for the $19-billion contract — U.S. defence giant Lockheed Martin and Swedish firm Saab — were told they met the government’s requirements.

The three sources were all granted anonymity because they were not authorized to discuss these matters publicly.

The Department of National Defence and Public Services and Procurement Canada, which is managing the competition on behalf of the federal government, did not immediately respond to requests for comment on Thursday.

Companies had been ordered to show their fighter jet was able to meet the military’s requirements for missions at home and abroad, but also that winning the contract would result in substantial economic benefits to Canada.

However, while Boeing’s failure to meet the requirements would appear to disqualify the Super Hornet from the competition, leaving only Lockheed Martin’s F-35 and Saab’s Gripen fighter jet in the running, none of the companies have been told whether they are still in or out.

A Boeing spokesperson said the company would reserve comment pending official notification from the government.

News that one of the two U.S. companies competing for the contract failed to meet one or more of those requirements is the latest twist in what has already been a long and often unpredictable road toward replacing Canada's CF-18s.

Many observers had seen the Super Hornet and F-35 as the only real competition because of Canada’s close relationship with the United States, which includes using fighter jets together to defend North American aerospace on a daily basis.

Those perceptions were only amplified after two other European companies dropped out of the competition before it even started, complaining the government’s requirements had stacked the deck in favour of their U.S. rivals.

“There was a lot of speculation about whether a non-American fighter could actually be a real contender, given Canada's requirements for interoperability with the United States,” said defence analyst David Perry of the Canadian Global Affairs Institute.

“If they're still in the mix, Saab has obviously met that mark.”

And while he acknowledged it was a surprise to see Boeing as one of the companies now on the outside looking in, Perry suggested the result could bolster the government’s assertions that it is running a fair and unbiased competition.

This report by The Canadian Press was first published Nov. 25, 2021.

© 2021 The Canadian Press. All rights reserved., source Canadian Press DataFile

Stocks mentioned in the article
ChangeLast1st jan.
LOCKHEED MARTIN CORPORATION -0.55% 389.08 Delayed Quote.10.08%
THE BOEING COMPANY -2.33% 189.75 Delayed Quote.-3.50%
All news about THE BOEING COMPANY
03:58pGoldman Sachs Raises Boeing's Price Target to $307 From $300, Maintains Buy Rating
MT
03:57pMorgan Stanley Raises Boeing's Price Target to $288 From $274, Maintains Overweight Rat..
MT
03:33pBOEING CO : Gets a Buy rating from UBS
MD
11:16aBoeing Secures Order from China Airlines For Four 777 Freighters
MT
10:44aAtlas Air Worldwide To Provide Flexport With Additional Boeing 747-400 Freighter
MT
09:25aBoeing Secures $1.4 Billion Order From China Airlines for Four 777 Freighters
MT
09:23aRBC Cuts Price Target on Boeing to $265 From $275, Citing 'Slightly Lower 2023 Estimate..
MT
09:09aWALL STREET STOCK EXCHANGE : Are we still in the Goldilocks zone?
08:57aMARKETSCREENER'S WORLD PRESS REVIEW : January 27, 2022
08:06aBell Boeing Improve Maintainability of V-22; Complete first aircraft in Nacelle Improve..
AQ
More news
Analyst Recommendations on THE BOEING COMPANY
More recommendations
Financials (USD)
Sales 2021 64 370 M - -
Net income 2021 48,4 M - -
Net Debt 2021 44 170 M - -
P/E ratio 2021 3 479x
Yield 2021 -
Capitalization 112 B 112 B -
EV / Sales 2021 2,42x
EV / Sales 2022 1,80x
Nbr of Employees 141 000
Free-Float 58,0%
Chart THE BOEING COMPANY
Duration : Period :
The Boeing Company Technical Analysis Chart | BA | US0970231058 | MarketScreener
Technical analysis trends THE BOEING COMPANY
Short TermMid-TermLong Term
TrendsNeutralNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 22
Last Close Price 189,75 $
Average target price 262,89 $
Spread / Average Target 38,5%
EPS Revisions
Managers and Directors
David L. Calhoun President, Chief Executive Officer & Director
Brian J. West Chief Financial Officer & Executive Vice President
Lawrence W. Kellner Non-Executive Chairman
Gregory L. Hyslop Chief Engineer, EVP-Engineering, Test & Technology
Susan Doniz Chief Information Officer & SVP-Data Analytics
Sector and Competitors
1st jan.Capi. (M$)
THE BOEING COMPANY-3.50%114 172
AIRBUS SE1.66%101 274
TEXTRON INC.-7.06%15 816
DASSAULT AVIATION12.32%10 014
AVIC ELECTROMECHANICAL SYSTEMS CO.,LTD.-33.39%7 619
AVICOPTER PLC-31.28%5 272