The stock of Boeing closed at $ 352.37 losing 0.28% in yesterday’s trading session. It was on Wednesday when Cockpit Innovation announced that it had entered a strategic business alliance with Boeing Co. And if all goes according to plan there will be an investment made in Cockpit (BA.N).
Several news reporters moved out in a bid to get the two business gurus to disclose more regarding the specific financial details but unfortunately they declined to make any comments. The two business giants will be in pursuit of developing technologies which are deemed crucial towards enhancing the travel, aviation and aerospace not forgetting the products of Boeing.
Kevin McAllister, who is Boeing’s Commercial Airplanes CEO opined, “Cockpit will provide a bridge to the global ecosystem of start-ups in fields that align with our strategic vision for Boeing, furthering our access into these developing sectors of the aerospace industry.”
Cockpit sees Lufthansa Systems as a worthy partner and at this point it is crucial to disclose that it has managed to back up almost eight startups which is a rather impressive figure according to market observers following closely on the most recent developments.
Gonen Usishkin, who happens to be the El Al CEO while addressing several news reporters in an interview outlined that they had plans underway to channel funds into making more investments in new sectors in the future.
The venture fund arm of EL AL Israel Airlines Ltd called Cockpit Innovation recently said that it had managed to strike a strategic business alliance with the largest aerospace company globally. It is an alliance that will see Boeing channel an undisclosed amount of money in the deal but of course it will be hoping for the best according to one of its officials.
The new collaboration according to sources will see the two business gurus move forward with their common goal of identifying, supporting as well as developing the latest technologies for possible applications in the aerospace and aviation industries. They will also be targeting playing a significant role towards giving direction to the future of these sectors.
Kevin McAllister outlined that the business alliance with Cockpit Innovation was a major reinforcement and it went quite far in line with furthering the company’s agenda. The two are said to have enjoyed a fulfilling long term relationship and it has been predicted by a market observer that the future looks bright. But the only way to be sure is to just wait and see.