Boeing deliveries drop despite 737 Max’s return

Boeing Co. got a bump in orders and deliveries of new planes in December, but it wasn’t enough to salvage a poor year for the big aircraft maker. Chicagobased Boeing still reported more cancellations than new orders for its 737 Max jet, which was grounded for 21 months after crashes in Indonesia and Ethiopia killed 346 people. The market for new planes remains depressed by the pandemic, which has devastated air travel. Boeing finished 2020 with 157 deliveries, including planes handed over to cargo airlines and military customers. That was down from 380 deliveries in 2019. Deliveries are crucial because aircraft makers get much of their cash when planes are delivered. Short on cash during the Max grounding, Boeing has borrowed billions and cut thousands of jobs to reduce costs.