NEW YORK, June 8, 2026, 17:07 EDT
• SpaceX’s anticipated blockbuster IPO is stoking chatter among investors about the possibility of a Tesla-SpaceX combo—raising questions about how such a move might put fresh heat on Boeing, beyond its usual rivalry with Airbus.
• Boeing, for its part, is making some headway on production and certification fronts. Still, its commercial aircraft division continues to bleed red ink.
• There’s no word of a Tesla-SpaceX merger. Boeing’s immediate challenge: deliver more jets, keep certification processes tight, and get cash flowing again.
Boeing’s shaky comeback gets a new challenge, with SpaceX’s record-setting IPO plans sparking renewed chatter on Wall Street: Elon Musk might one day merge the rocket company with Tesla, stitching together a heavyweight that spans space, AI, and manufacturing.
Timing’s critical here. Boeing needs to show it can ramp up 737 MAX production, unlock cash from a $695 billion order book, and get through its certification logjam, all while SpaceX lines up for a public debut valued more like a tech giant than an old-school aerospace name.
24/7 Wall St., in a piece picked up by Yahoo Finance on May 20, called out Boeing as the player most at risk if Tesla and SpaceX ever formed a single entity. The column pointed to Boeing’s direct friction with SpaceX in everything from crewed spacecraft to satellites, defense launches, and United Launch Alliance—the rocket joint venture it shares equally with Lockheed Martin. For now, though, the story underscored that talk of a tie-up is pure speculation.
SpaceX is eyeing a valuation near $1.8 trillion and a listing worth $75 billion, according to a Reuters report Monday. Matt Kennedy, senior strategist at Renaissance Capital, described SpaceX’s fixed-price play as a “real break” from standard IPO routines, arguing it shifts the roadshow dynamic toward selling rather than price discovery. An IPO marks a company’s debut share sale to public investors. Reuters
Boeing was last quoted at $215.92, ticking up roughly 0.2%. Tesla surged 4.6% to $408.95 after hours in New York. Lockheed Martin and Northrop Grumman—frequent Boeing comparables on the defense side—traded down.
Musk wasn’t the headline for Boeing this time. On Monday, Canada’s WestJet announced plans to launch its first Boeing 737 MAX 10 in the first quarter of 2027, provided it clears U.S. and Canadian regulators. CEO Alexis von Hoensbroech pointed to “a lot of confidence” coming from both Boeing and the Federal Aviation Administration on the certification front. Reuters
Southwest Airlines told Reuters it’s still backing Boeing’s MAX jets, not bringing in the Airbus A220, and now sees the smaller MAX 7 flying passengers in 2027. “The clock starts when they certify it,” said Andrew Watterson, the airline’s chief operating officer. Reuters
Boeing is weighing if it could someday push 737 MAX output to 70 planes a month—well past the current ramp from 42 to 47 jets and even more than its 63-per-month target. Airbus has its own sights set: the A320neo-family line is on track for 70 to 75 jets a month by late 2027.
On the widebody front, aviation outlet Leeham News said Sunday that Boeing secured FAA sign-off to move ahead with TIA Phase 4B testing on the 777X. TIA—Type Inspection Authorization—marks the regulatory milestone where the FAA authorizes specific certification flight tests. Boeing Commercial Airplanes CEO Stephanie Pope called the approval a green light for what she described as the “largest remaining portion” of the flight-test program. Leeham News and Analysis
The balance sheet spells out the stakes. Boeing’s first quarter brought in $22.2 billion in revenue, but showed a core loss per share at 20 cents and free cash flow running negative $1.5 billion. The company ended the period with a record $695 billion backlog. Its commercial aircraft division turned in a 6.1% operating loss margin for the quarter. Free cash flow—cash left after capital spending—remains in focus.
The Musk risk, for now, sits out on the horizon. No word from SpaceX on any kind of Tesla merger. Reuters Breakingviews points out a different tension with the IPO: if SpaceX floats less than 5% of its shares, a hefty chunk stays locked up, insiders unable to sell for a while. Boeing’s troubles, by contrast, are more immediate—another certification snag, a slip in the supply chain, or a drag on cash recovery could all hit sooner.
