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THE BOEING COMPANY

(BA)
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Boeing 737 MAX deliveries shrink to four planes in April due to electrical issue

05/11/2021 | 11:02am EDT
Grounded Boeing 737 MAX aircraft are seen parked at Boeing Field in Seattle

(Reuters) - Boeing Co said on Tuesday 737 MAX jet deliveries fell to just four airplanes in April from 19 in the previous month, as the U.S. planemaker's best-selling aircraft struggles with an electrical problem that has re-grounded part of the fleet.

Boeing said last month it was halting deliveries of the jet again due to the electrical problem.

The planemaker started delivering the 737 MAX to airlines in December nearly two years after the jet returned to service following a lengthy safety ban.

The company said it delivered a total of 17 airplanes in April, bringing its deliveries to a total of 94 aircraft for the first four months of the year.

Apart from the four 737 MAX jets, Boeing said it delivered nine 787 Dreamliners, two 767s and two 777-freighters last month and booked 25 gross orders.

The gross orders include five previously announced 777-freighters for Silk Way West Airlines and 20 orders for the 737 planes - 14 for Dubai Aerospace Enterprise, three for Air Lease Corp and three for unidentified customers.

Boeing said customers canceled 17 737 MAX airplane orders in April. Net of cancellations and conversions, Boeing booked eight aircraft orders last month and had no adjustments for stricter accounting standards.

The company's gross orders for the first four months were 307 airplanes. Net orders after accounting adjustments were 84 aircraft for the same period, Boeing said, up from 76 planes in March.

Boeing said its official backlog fell to 4,045 aircraft orders in April, from 4,054 aircraft orders in March.

(Reporting by Sanjana Shivdas and Ankit Ajmera in Bengaluru; Editing by Maju Samuel)

By Sanjana Shivdas


ę Reuters 2021
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Financials (USD)
Sales 2021 74 859 M - -
Net income 2021 1 264 M - -
Net Debt 2021 41 897 M - -
P/E ratio 2021 109x
Yield 2021 -
Capitalization 125 B 125 B -
EV / Sales 2021 2,23x
EV / Sales 2022 1,74x
Nbr of Employees 141 000
Free-Float 57,8%
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Mean consensus OUTPERFORM
Number of Analysts 22
Last Close Price 213,36 $
Average target price 271,68 $
Spread / Average Target 27,3%
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Managers and Directors
David L. Calhoun President, Chief Executive Officer & Director
Brian J. West Chief Financial Officer & Executive Vice President
Lawrence W. Kellner Non-Executive Chairman
Gregory L. Hyslop Chief Engineer, EVP-Engineering, Test & Technology
Susan Doniz Chief Information Officer & SVP-Data Analytics
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