Boeing CEO Calhoun bullish on demand for airplanes – Reuters (NYSE:BA)

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Demand for airplanes is strong and will continue to improve as airlines seek to replace aging fleets, buy more efficient models and continue to see passenger growth, Boeing (NYSE:BA) CEO Dave Calhoun told Reuters on Monday.

“Demand for airplanes is as robust as I’ve ever seen it… [It’s] more than a bubble,” the CEO reportedly said at the company’s new headquarters in Arlington, Virginia.

Calhoun said Boeing (BA) did not consider relocating its headquarters back to Seattle, where it had been based until its move to Chicago in 2001; the company is headed for Virginia because “our biggest customer in the world is right across the way – the Pentagon.”

The CEO also noted Boeing’s (BA) new top location is in an Arlington office it has had since 2014 where it has significant unused space, and which sits just blocks from Amazon’s “HQ2,” which is under construction.

Only a handful of top executives including Calhoun and the CFO will be based in Virginia, the CEO said, explaining that 70% of my day no matter where I am is virtual anyway because I run a large distributed company.”

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Asked about any movement on attempts to resume more airplane deliveries in China, Calhoun told Reuters he “remains constructive… someday good things will happen, but I can’t tell you the day.”

Boeing (BA) shares closed -8.7% on Monday for their lowest close since March 2020 and have shed nearly 18% during the past four days.

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