{"id":104432,"date":"2021-01-12T17:54:35","date_gmt":"2021-01-12T17:54:35","guid":{"rendered":"https:\/\/fin2me.com\/?p=104432"},"modified":"2021-01-12T17:54:35","modified_gmt":"2021-01-12T17:54:35","slug":"boeing-limps-into-2021-with-more-737-max-cancellations-delayed-787-deliveries","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/boeing-limps-into-2021-with-more-737-max-cancellations-delayed-787-deliveries\/","title":{"rendered":"Boeing limps into 2021 with more 737 MAX cancellations, delayed 787 deliveries"},"content":{"rendered":"

SEATTLE (Reuters) – Boeing Co delivered about 60% fewer aircraft to customers in 2020 than 2019 and less than one-third the deliveries of rival Airbus, the lowest in 43 years, company data showed on Tuesday.<\/p>

FILE PHOTO: The Boeing logo is pictured at the Latin American Business Aviation Conference & Exhibition fair (LABACE) at Congonhas Airport in Sao Paulo, Brazil August 14, 2018. REUTERS\/Paulo Whitaker<\/figcaption>

Tuesday\u2019s snapshot of orders and deliveries caps a year in which the coronavirus pandemic and the tail-end of a 20-month 737 MAX grounding after fatal crashes prevented embattled airlines from adding new jets to their sidelined fleets.<\/p>\n

Also, for a second month, Boeing handed over zero 787 Dreamliners to customers, as intensive inspections over recent production flaws compounded delays from the COVID-19 crisis.<\/p>\n

Jet deliveries are being closely scrutinized by investors as they generate much-needed cash during the coronavirus crisis.<\/p>\n

Overall, the U.S. planemaker delivered 39 planes to customers in December, including 27 737 MAX jets, one P-8 maritime patrol aircraft, and 11 widebodies.<\/p>\n

For the year, it delivered a total of 157 airplanes, down from 380 in 2019 and a record 806 jets in 2018.<\/p>\n

By comparison, Airbus posted stronger-than-expected deliveries of 566 jets in 2020, remaining the world\u2019s largest planemaker, a title Boeing held from 2012 through 2018.<\/p>\n

Even so, deliveries at Airbus fell 34% from a record a year earlier, when travel demand was riding high on the increasing mobility of consumers in fast-growing markets across Asia.<\/p>\n

For jet orders, Boeing booked 90 orders in December, including a previously announced lifeline deal from budget airline Ryanair for 75 737 MAX jets. The best-selling narrowbody was cleared to resume service in November in the U.S. after a 20-month grounding order.<\/p>\n

Boeing also booked orders for seven MAX jets from unidentified buyers in December, and for eight 777 freighters from the courier arm of Deutsche Post AG DHL Express.<\/p>\n

But the fresh orders were eclipsed last month as buyers walked away from orders for 105 MAX jets and two 787s, Boeing said.<\/p>\n

For the year, gross orders were 184 jets, down 25% compared with 2019, and the lowest since 1994.<\/p>\n

Adjusted for stricter accounting standards, cancellations and orders where the buyer converted to another model, 2020 net orders for all Boeing models moved to negative 1,026 at year-end, from negative 1,048 in November.<\/p>\n

For the MAX, buyers canceled orders for some 641 jets, while Boeing removed from its backlog another 523 seen as unlikely to be filled when stricter accounting standards are applied.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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