All articles tagged with #airplane deliveries
Boeing significantly reduced its losses in the second quarter, with increased airplane deliveries and revenue growth, signaling signs of recovery and potential for a successful turnaround in 2025, despite ongoing challenges like certification delays and labor issues.
Boeing plans to resume airplane deliveries to China next month and increase Max production, despite ongoing trade tensions and tariffs, as part of its efforts to recover from past safety and delivery issues and meet airline demand.
Boeing anticipates a cash burn in 2024 and a slow recovery in airplane deliveries due to ongoing production challenges, according to CFO Brian West. The company faced nearly $4 billion in cash burn in Q1 and expects similar or worse figures in Q2, with a return to positive cash flow projected for the second half of 2024. Production issues, including a recent door plug incident and parts shortages, have led to delivery delays and increased federal scrutiny. Boeing's shares dropped over 7% following these revelations.
Boeing's quarterly airplane deliveries dropped to 83, the lowest since mid-2021, as the company faces increased scrutiny following a safety crisis. The drop comes after an incident on Alaska Airlines Flight 1282, prompting the FAA to inspect Boeing's 737 Max production and restrict output until quality control is approved. Boeing is slowing production to improve quality control and avoid delays, with CEO Dave Calhoun set to step down by year's end. The company also compensated Alaska Airlines $160 million for a brief grounding of the 737 Max.
Boeing's airplane deliveries in February slipped to 27, down from 28 in the same month last year, as the U.S. planemaker faces production constraints due to the grounding of the 737 MAX 9 and supply chain stability issues. The company has delivered 54 airplanes so far this year, including 42 MAX jets, and received 15 new orders in February, bringing the gross total to 18 for the year. After accounting adjustments, Boeing reported adjusted net orders of 19 airplanes. Meanwhile, European rival Airbus posted 33 gross orders and 79 aircraft deliveries in the first two months of the year.