Passenger traffic in the Travel sector is growing at 7 percent a year — outpacing the United States’ near-2 percent GDP growth — and Boeing is at the center of the trend, Muilenburg said on Thursday.
“The nature of the Business has changed. Global traffic has become very networked, very connected,” Muilenburg told Cramer. “We’ve got millions of new people traveling every year. And so our Business has turned from being a cyclical, commercial Business to a long-term sustained growth Business.”
As a company that focuses on long-term prospects (and one of the few public companies with a 20-year plan), Boeing is ramping up production to meet the pace of growth, the CEO said.
Muilenburg also talked up his company’s partnership with NASA, saying that Boeing will beat Elon Musk’s SpaceX in a space race to Mars.
Disclosure: Cramer’s charitable trust owns shares of Allergan.
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Source : CNBC