Boeing net orders slump to lowest in decades
David Calhoun takes the yoke of Boeing as CEO amid 737 Max concerns
David Calhoun takes the helm of Boeing as CEO with a $7 million bonus incentive to get the 737 Max back in the air. FOX Business’ Kristina Partsinevelos with more.
(Reuters) – Boeing Co reported its worst annual net orders in decades on Tuesday, along with its lowest numbers for plane deliveries in 11 years, as the grounding of its 737 MAX jet saw it fall far behind main competitor Airbus.
Continue Reading Below
Allowing for cancellations and changes to earlier orders, Chicago-based Boeing said it had received just 54 new orders for planes in 2019 and delivered less than half as many as a year earlier, losing the top spot to its European rival for the first time in eight years.
Ten months after the MAX was grounded following a pair of fatal crashes linked to its MCAS anti-stall system, Boeing still has a backlog of more than 5,400 orders for its long- and short-distance commercial jets.
By comparison, Airbus said earlier this month it racked up a net 768 orders last year after cancellations and delivered a record 863 planes.
RYANAIR COULD START GETTING BOEING 737 MAX DELIVERY BY APRIL, AIRLINE SAYS
Boeing said on Tuesday deliveries fell by 53% to 380 planes over the whole of last year, as the MAX's grounding made it impossible for it to deliver the planes to airline customers, forcing it to halt production earlier this month.