Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Boeing delivers 22 jets in August, 737 MAX 'white tails' nearly gone

Stock MarketsSep 15, 2021 04:46
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
2/2 © Reuters. FILE PHOTO: A Boeing 737 MAX 8 sits outside the hangar during a media tour of the Boeing 737 MAX at the Boeing plant in Renton, Washington December 8, 2015. REUTERS/Matt Mills McKnight/File Photo 2/2

By Eric M. Johnson and Tim Hepher

SEATTLE/PARIS (Reuters) -Boeing Co delivered 22 airplanes in August amid revived domestic travel and won orders for seven 787s in a respite for a program hobbled by industrial defects and a halt in deliveries.

The closely watched monthly snapshot comes as Boeing (NYSE:BA) tries to recoup billions of dollars in lost sales from the coronavirus pandemic, and move beyond a safety scandal caused by two fatal 737 MAX crashes.

Of the 22 jetliners delivered last month, 14 were 737 MAX passenger jets and two were P-8 maritime patrol aircraft.

The remaining six jets were widebodies, including three KC-46 tankers for the U.S. Air Force.

For the year to date, Boeing has delivered 206 aircraft.

European rival Airbus delivered 40 jets in August to reach 384 since the start of the year.

Through August, Boeing had delivered 169 of its best-selling 737 MAX jets since that aircraft returned to service in late 2020 following a nearly two-year safety ban.

Crucially, Boeing has virtually eliminated a stockpile of up to 200 unwanted jets known in the industry as "white tails," left by the MAX crisis, according to industry sources.

But it is grappling with structural defects in its bigger 787, which have caused it to cut production and halt deliveries.

Boeing nonetheless struck an optimistic note with higher industry forecasts on Tuesday, citing a recovery in domestic markets, although international travel remains depressed and coronavirus variants pose potentially new risks.

Boeing said it received orders for 53 aircraft in August, including 35 MAX and 18 widebody aircraft.

Those include 11 777 freighters - one for FedEx Corp (NYSE:FDX) and 10 more from a buyer or buyers Boeing declined to identify.

Total orders for August, after cancellations and conversions, stood at 23.

That brings orders for the year so far to 683 or 280 after cancellations, ahead of Airbus' net total of 132.

INDIAN DEAL

Industry sources said Boeing is close to winning an order for some 70-100 737 MAX jets from India's Akasa, a budget startup founded by billionaire Rakesh Jhunjhunwala, pending separate talks on a long-term engine service deal.

But it remains in a dispute with Irish budget airline Ryanair, one of its biggest customers, over the pricing of a potential order for up to 250 MAX jets as demand for new airliners picks up in Europe.

Ryanair says it is not prepared to bow to Boeing's pricing demands amid uncertainty over COVID-19 trends and suspended talks last week.

Market sources say Boeing has signalled more confidence on prices after securing orders from United Airlines and others, and after finding homes for all but 20 of the "white tails".

European sources accuse Boeing of slashing prices aggressively to win deals, a charge it denies.

Asked on Tuesday about supplies of MAX jets, Stephen Jones, chief executive of Flair Airlines, told Reuters in Montreal, "I think it has tightened up quite a lot." The airline secured MAX jets at what he called a "great price" in March.

Boeing delivers 22 jets in August, 737 MAX 'white tails' nearly gone
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email