BOEING: 737 MAX CANCELLATIONS LOWER THAN JUNE
Boeing sold no airline planes and customers canceled orders for 43 of its 737 Max jet last month as the aircraft maker continued to struggle with both the pandemic and the ongoing grounding of the Max after two deadly crashes.
Still, the cancellations reported Tuesday were down from 60 the month before. Shares finished the trading day nearly flat.
Between cancellations and orders that Boeing no longer considers certain — often because of the buyer’s fragile financial position — Boeing has lost more than 800 net orders so far this year.
Chicago-based Boeing is still working to get approval from regulators in the United States and other countries to resume shipments of the 737 Max.
Boeing Co. delivered just four planes in July compared with 19 in the same month last year. That is a blow to Boeing’s ability to generate cash because airlines typically pay half or more of the purchase price when the plane is delivered.