Boeing reports lower Q2 deliveries amid 737 MAX crisis | Fin24
 
  • Load Shedding

    Find the latest load shedding schedules for Joburg, Durban, Cape Town, and other cities.

  • Ferial Haffajee

    South Africans are a cynical lot. Are we are missing that the business investment strike is over?

  • 'Devastated'

    Western Cape govt bemoans Arcelor Mittal SA's decision to shut its steel works plant in Saldanha.

Loading...

Boeing reports lower Q2 deliveries amid 737 MAX crisis

Jul 09 2019 21:21

New York, July 9, 2019 (AFP) - Boeing reported a sharp drop in second-quarter commercial plane deliveries on Tuesday as the grounding of 737 MAX planes weighs on profits.

Boeing, which has halted deliveries of the top-selling plane since mid-March, reported 90 deliveries in the quarter ending June, down from 194 in the year-ago period, a decline of 54 percent, with a big drop in 737 planes accounting for the difference.

Plane deliveries are tied to company revenues and closely monitored by Wall Street. Leading analysts have slashed their profit forecasts for Boeing due to the 737 MAX crisis, which has halted deliveries and forced the company to store planes after they are manufactured.

Boeing has developed a software upgrade after problems with a flight handling system were tied to Lion Air and Ethiopian Airlines crashes that together claimed 346 lives. But the jet has still not been cleared by regulators to resume work.

The Federal Aviation Administration last week identified a fresh problem during simulator testing, further clouding the outlook for the plane's return to service.

Boeing shares fell 0.4% to $349.64 in mid-morning trading.

boeing 737 crash
NEXT ON FIN24X

 
 
 
 

Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

What do you think about private healthcare in SA?

Previous results · Suggest a vote

Loading...