By WSJ City
Boeing commercial jetliner deliveries fell by more than a third in the first half of 2019 from a year earlier as 737 MAX aircraft continue to pile up at its facilities, with rival Airbus set to overtake its US rival as the world's largest plane maker for the first time in seven years.
Boeing shares fell after the announcement.
--- For the third straight month, Boeing on Tuesday reported no new orders of the MAX aircraft.
--- The aircraft have been grounded since mid-March following two fatal crashes.
--- Overall, it shipped 239 planes over the first six months compared with 378 in the same period last year.
--- More than 150 of the grounded MAX jets are parked in storage.
--- Boeing's plans to fix the plane have encountered delays.
--- Airbus remains on track to deliver a record number of jets this year after shaking off various production problems.
--- Airbus shipped 389 planes in the first six months compared with 303 in the year-prior period.
Why This Matters
The undelivered planes are draining Boeing's closely watched cash flow, which analysts expect to turn sharply negative this year, adding to the pressure to deliver its 787 Dreamliner jets, aircraft services and defence equipment.
Airbus has promised to build 880 to 890 airliners this year. If it hits its full-year target, it is poised to ship more jets than Boeing for the first time since 2012.
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