Boeing Aircraft Deliveries Plummet, No New Orders In Two Months As 737 Max Remains Grounded
CHICAGO (CBS/AP) -- As 737 Max jets remain grounded around the world, Chicago-based Boeing says its delivery of new planes in 2019 is less than half of last year.
Boeing delivered only 30 aircraft last month, down from 68 in May 2018. Even worse, Boeing received no new orders for planes for the second consecutive month.
The company is still building 737 Max jets to fill previously placed orders, but those planes still can't fly after regulators around the world grounded them due to two deadly crashes.
Boeing has said it completed its software fix for the anti-stall system implicated in two deadly crashes in October and March, which killed a total of 346 people. But the company is still waiting for federal approval of the software fix, keeping the 737 Max fleet grounded.
The company has 4,550 unfilled orders for the Max but stopped deliveries after regulators around the world grounded the plane following crashes in Indonesia and Ethiopia that killed 346 people. It's working on changes to flight-control software implicated in the crashes.
Boeing reported a canceled order for 71 Max planes that were to be leased to Jet Airways until the financially struggling Indian carrier suspended all flights in April. Boeing has not reported other large cancellations despite the Max's grounding.
Orders for all Boeing airlines were "anemic" in May but should be better at next week's Paris Air Show, said Cowen Research aerospace analyst Cai von Rumohr.
Boeing stock has dropped 21% since early March, after the crash of an Ethiopian Airlines jet prompted regulators to ground all 737 Max aircraft.
(© Copyright 2019 CBS Broadcasting Inc. All Rights Reserved. The Associated Press contributed to this report.)
