Boeing Reports Zero New Plane Orders For April Amid 737 Max Troubles

Boeing’s bad year continues.

As CNN Business pointed out Tuesday, the world’s largest planemaker reported zero new orders for planes in April. Unsurprisingly, Boeing received no new orders for its embattled 737 Max jet, which has been under intense scrutiny following the deadly Lion Air and Ethiopian Airlines crashes. But the company’s other jets, including the 777 and 787, weren’t snapped up, either.

According to a report on Boeing’s website, the company’s net orders for this year so far have fallen into deficit due largely to cancellations for the 737 Max. From January to April, Boeing said it received minus 119 orders.

This stands in stark contrast to the 221 net orders that Boeing reported during the first quarter of 2018.

As Reuters noted, it isn’t just orders for Boeing jets that have plummeted since the twin crashes; Boeing also delivered 24% fewer airplanes in the first four months of 2019 compared with the same period last year. Boeing typically only receives the majority of the payment for an aircraft when it is delivered. 

Boeing said in April that the grounding of the 737 Max had already cost the company at least $1 billion. Reuters said at the time that Boeing was “facing one of the biggest crises in its 103-year history.”  

As CNN noted, Boeing rival Airbus has itself not had a great year.

Airbus received just five new plane orders in April but also reported five cancellations. The company revealed last week that its total net order for January to April this year was minus 58. 

Source link