BOE­ING: 737 MAX CAN­CEL­LA­TIONS LOWER THAN JUNE

Chicago Sun-Times - - BUSINESS -

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.

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.