The stock of Boeing Co. (BA) is down 3% on reports that the troubled company received only four aircraft orders during the month of May.
In comparison, Boeing received 69 airplane orders in May 2023.
For the second month in a row, none of the aircraft orders placed with Boeing were for its 737 MAX planes that have struggled with safety issues.
Production at Boeing has slowed significantly after an emergency door plug blew off a 737 MAX aircraft midflight at the start of this year.
The incident has resulted in strict regulatory oversight of the company and its manufacturing process by the Federal Aviation Administration (FAA).
The current situation has caused major headaches at airlines around the world as Boeing is one of only two commercial aircraft manufacturers along with Europe’s Airbus SE (AIR).
Boeing said that in May it delivered a total of 24 aircraft, including 19 of its 737 MAX planes. That’s less than half the 50 planes delivered a year earlier.
Boeing has said that it is on track to deliver a total of 72 aircraft in the current second quarter. Wall Street analysts expected Q2 deliveries of 91 airplanes.
The company currently has 6,200 unfilled orders, representing more than a decade of demand at current build rates.
Boeing’s stock has declined 26% so far in 2024 and currently trades at $185.50 U.S. per share.
Related Stories
