Business

Boeing reports more cancellations than new orders for 2019

Posted January 14, 2020 11:58 a.m. EST

— Boeing reported final order numbers and deliveries for 2019 Tuesday and they were as bad expected.

The company reported more cancellations than new business in 2019, and its order book for the troubled 737 Max shrank by 183 jets. Much of that was because of some overseas airlines going bankrupt, but with the troubled Max, there was little demand to make up for the lost orders.

The 777, which is seeing delays in the debut of the 777X version, also lost more orders than it gained. Even with positive orders for the 767 and 787 Dreamliner, Boeing's total orders for commercial jets last year fell by 87 jets.

Deliveries also tumbled 53% to 380 from 806 a year earlier, due to the grounding of the 737 Max following two fatal crashes that killed 346 people.

That put Boeing far behind rival Airbus. Last week, Airbus reported record deliveries of 863 jets, up 8%, and orders up 2% to 768. This is despite the fact that Airbus had its own setback with the cancellation of the A380 jumbo jet early in the year.

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