Boeing logs no 737 Max orders in May
Boeing received orders for only four new planes in May and, for the second straight month, none for its best-selling 737 Max as fallout continues from the blowout of a side panel on a Max during a flight in January. Boeing received orders for only four new planes in May, marking the second consecutive consecutive month that there were no orders for its best-selling 737 Max. This follows a blowout of a side panel on a Max during a flight. The company's shares fell $4.62, or 2.4%, to close at $185.50. Despite this, Boeing still has a backlog of over 5,600 orders. The Federal Aviation Administration is limiting Boeing's production of 737s due to ongoing issues with production, allegations of shortcuts and falsified inspection records on some 787 Dreamliner jets. Boeing delivered 24 jetliners in May including 19 Max jets.
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Boeing received orders for only four new planes in May and, for the second straight month, none for its best-selling 737 Max as fallout continues from the blowout of a side panel on a Max during a flight in January.
The results released Tuesday compared unfavorably with Europe's Airbus, which reported net orders for 15 planes in May -- 27 sales but 12 cancellations.
Boeing also saw Aerolineas Argentinas cancel an order for a single Max jet, bringing its net sales for the month to three.
Shares of The Boeing Co. fell $4.62, or 2.4%, to close Tuesday at $185.50.
The dismal results came after poor figures for April, when Boeing reported seven sales -- none of them for the Max.
Boeing hopes that the slow pace of orders reflects a lull in sales before next month's Farnborough International Airshow, where aircraft deals are often announced.
But the Federal Aviation Administration is capping Boeing's production of 737s after a door plug blew out from an Alaska Airlines Max, allegations by whistleblowers that Boeing has taken shortcuts to produce planes more quickly, and reports of falsified inspection records on some 787 Dreamliner jets.
Boeing, based in Arlington, Va., delivered 24 jetliners in May, including 19 Max jets. Ireland's Ryanair got four and Alaska Airlines took three. Airbus said it delivered 53 planes last month.
Despite the slow pace of recent sales, Boeing still has a huge backlog of more than 5,600 orders.
By one measure, the campaign to improve quality appears to have shown modest improvements in May. Of the 737 Max deliveries, 16 aircraft were recent factory rollouts, up from just nine jets in April, Scott Deuschle, analyst with Deutsche Bank, said in a June 3 report. Boeing declined to say how many deliveries were of factory-fresh aircraft versus those coming out of long-term storage.
Boeing shipped five widebody aircraft in May, including two 787 Dreamliners. While one of the carbon-composite aircraft went to China, its delivery paperwork was completed in early May. That's before the nation's regulators paused imports from the U.S. planemaker over the design of new, 25-hour cockpit voice recorders that have been approved by their counterparts in the U.S. and Europe. The delivery halt remains in effect, Boeing said.
Through the end of May, Boeing has delivered 131 airplanes, including 102 of its 737 family models. Airbus's total stands at 256 units. However, 787 deliveries fell by half versus April as the company grappled with shortages of heat exchangers and premium seats. Boeing didn't deliver any 777 freighters, either, and has only handed over two of the models so far this year.
Investors need to see "accelerating improvement" in deliveries of all three aircraft to gain confidence that Boeing's cash outflows will turn around during the second half, Deuschle said.
Information for this article was contributed by The Associated Press and by Julie Johnson of Bloomberg News (WPNS).
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