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Thu, Jan 16, 2020

Boeing Shows A Net Loss Of Orders In 2019

Company Reports More Cancellations Than New Purchases Last Year

For the first time in decades, Boeing had a net loss of orders in 2019, which analysts attribute to ongoing issues with the 737 MAX.

CNBC reports that, according to Boeing's annual report released Tuesday, the company lost orders for 87 commercial airplanes, including three changes in december from customers planning to buy Dreamliners.

A Boeing spokesman told CNBC that the net negative order book hasn't happened "in the last 30 years."

Airbus, by contrast, logged orders for 768 new airplanes last year.

Boeing did not take any orders for any 737 MAX airplanes in 2019 as airlines and leasing companies shunned the beleaguered airplane.

Newly-minted Boeing CEO Dave Calhoun said in an email to all Boeing employees on Monday that returning the 737 MAX to service is a top priority. "We’ll get it done, and we’ll get it done right," he said.

But there is still no timeline for a return to service for the 737 MAX, which has been grounded since last March.

Due to the MAX grounding, Boeing delivered just 380 commercial airliners in 2019, the lowest number since 2007. Airbus delivered a record 786 airplanes in 2019.

(Image from file)

FMI: Source report

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