Boeing (NYSE:BA) reported on Tuesday that it delivered 24 commercial planes in May, significantly down from the 50 jets handed over to customers in the same month the previous year. The company has been operating a slower assembly line to address outstanding work and improve manufacturing quality, following increased scrutiny from regulators after a door plug blowout on a 737 MAX 9 jet on January 5.
In May, Boeing delivered 19 MAX jets, which is three more than in April but still down 45% from the 35 delivered in May 2023. According to an April report from Reuters, Boeing’s monthly output had dropped to single digits by late March, far below the Federal Aviation Administration’s imposed cap of 38 jets per month.
Aircraft deliveries are a key metric for Wall Street as planemakers collect the majority of their payment upon handing over jets to customers. In May, Boeing took four new gross orders, all for 787-10 Dreamliners from Eva Air, bringing its gross order total for the year to 142.
After accounting for cancellations and conversions, Boeing posted a net total of 103 orders since the start of 2024. Adjusted for the quality of the backlog, Boeing reported 130 net orders so far this year. The company’s backlog decreased from 5,646 to 5,625 as of May 31.
In comparison, earlier this month, Boeing’s European rival Airbus reported delivering 53 aircraft in May, a 16% decline from the same month in 2023, with total deliveries for the year so far at 256.
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