Illinois planemaker Boeing jet deliveries drop to 60-year-lows in May

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Illinois planemaker Boeing jet deliveries drop to 60-year-lows in May

Deliveries of Boeing Co., the Chicago, Illinois-based aerospace industry giant which had lost its aviation industry crown to rival Airbus SE last year, had been slacken off even further on May following a catastrophic April, as the long-hailed American multinational aviation industry giant seems to be struggling to find a way out of the pandemic-led slump after a year of wears and tears due to the mass-grounding of its best-selling 737 MAX, company data had revealed earlier on Tuesday, eventually shrugging off the grief-sickened planemaker’s shares’ price more than 5 per cent to $218.39 on pre-market trading.

On top of that, the American multinational planemaker had added in its statement that it had delivered only four jets in May, down from a record low figure of six in April and registering the lowest total the planemaker had handed over for a month in more than 60 years.

Besides, on an annualized basis, Boeing Co. jet deliveries had been plunged by 87 per cent compared to the same time a year earlier.

Order cancellations soar, deliveries down as Boeing Co. crisis deepens

As a matter of fact, in what could be seen as a potentially fatal fiscal drawdown, the latest set of data had added further strains to the crises-sickened Chicago planemaker, since the airlines actually make the payments after receiving the aircrafts, while flight cancellations had also surged to 18 last month including some of Boeing Co.’s best-selling 737 MAX.

In tandem, while Boeing Co. had resumed productions last week over prospects of making deliveries of its grounded 737 MAX by the third quarter of the year, a number of heavyweight airlines such as Southwest Airlines, United Airlines, Brazil’s GOL and a many more had cancelled orders in a bid to cope up with the global-scale ban on international travelling aimed at containing the pandemic outbreak.

Nonetheless, although the world’s No. 2 low-cost aircraft carrier manufacturer had scored only four deliveries last month and all of them were for the US military, Boeing Co. did secure nine new orders for its wide body planes in May.