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Saturday, September 25, 2021

Boeing May Have Bottomed

Boosted by new contracts for the 737 MAX, Boeing reported Tuesday that new commercial plane orders last month exceeded cancelations for the first time since November 2019.

Boeing received 82 orders for its planes in February, including 39 for the 737 MAX, which returned to service in late 2020 following a 20-month grounding after two deadly crashes.

Boeing saw 51 order cancelations in February, according to data on its website.

The figures point to a partial comeback from one of Boeing’s rockiest periods in its more than 100-year history.

Amid the grounding of the best-selling MAX and the global downturn in travel demand caused by the Covid-19 pandemic, the aviation giant suffered 655 cancelations or plane order conversions last year.

The United States cleared the MAX to resume flights in November, and more than 160 of 195 aviation regulators around the world have followed suit. Fourteen airlines have reintegrated the plane into their schedules.

Boeing delivered 22 planes in February, including 18 MAX aircraft. The company reported no deliveries of the 787 Dreamliner, which have been suspended due to quality flaws.

S. Jack Heffernan Ph.Dhttps://www.knightsbridgelaw.com
S. Jack Heffernan Ph.D. Economist at Knightsbridge holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Crypto, Mining, Shipping, Technology and Financial Services.

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