Boeing Sales Tumble as Company Receives No Orders for 737 Max for Second Straight Month

In May 2024, Boeing (NYSE:BA) had another weak month for aircraft sales, receiving orders for only four new planes, with none for its best-selling 737 Max. This marks the second consecutive month without orders for the Max, following issues stemming from a side panel blowout during a flight in January.

Compared to its European competitor Airbus, which reported 27 new plane orders in May, Boeing’s performance was significantly weaker. Additionally, Aerolineas Argentinas canceled an order for a single Max jet, bringing Boeing’s net sales for the month down to three.

These disappointing results follow poor figures from April, when Boeing reported seven sales, none of which were for the Max.

Boeing hopes the slow pace of orders is a temporary lull before the Farnborough International Airshow next month, where aircraft deals are often announced.

However, Boeing is facing challenges from the Federal Aviation Administration (FAA), which is capping production of the 737 Max after a door plug blew out from an Alaska Airlines Max. There are also allegations from whistleblowers that Boeing has taken shortcuts to speed up production, and reports of falsified inspection records on some 787 Dreamliner jets.

In May, Boeing, based in Arlington, Virginia, delivered 24 jetliners, including 19 Max jets. Ireland’s Ryanair received four, and Alaska Airlines took three. In contrast, Airbus delivered 53 planes last month.

Despite the slow pace of recent sales, Boeing still has a substantial backlog of more than 5,600 orders.

Featured Image: Unsplash

Please See Disclaimer

About the author: Stephanie Bédard-Châteauneuf has over four years of experience writing financial content for various websites. Over the years, Stephanie has covered various industries, with a primary focus on consumer stocks, cannabis stocks, tech stocks, and personal finance. She has an MBA in finance.