Boeing Reports Drop in Second-Quarter Deliveries Amid Grounding of MAX Jets
Boeing (BA) said second-quarter and first-half deliveries declined as the planemaker feels the continued fallout from the global grounding of the company’s 737 MAX jet.
First-half deliveries fell 37% from a year earlier.
The 737 MAX has been grounded since March following two crashes less than six months apart that killed a total of 346 people. Boeing didn’t break out separate numbers for the different classes of its 737 jet.
Boeing delivered 239 planes in the first six months of the year, well behind the 389 planes European rival Airbus SE (EADSY) delivered during the same period.
The second quarter saw a big drop-off from the first quarter with only 90 planes, of the 239 plane total, delivered in the period. The 737 class of planes saw the biggest drop-off, with the company delivering 24 in the quarter compared with 89 in the first quarter.
This week, Saudi budget airline Flyadeal canceled its $5.9 billion Boeing 737 MAX delivery order in favor of an Airbus order.
Boeing shares were down 0.4% to $349.77 on Tuesday.