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Boeing (BA) Deliveries Drop Nearly 75% in August Month as Orders Hit Lowest Since May

Boeing’s (BA) deliveries continued to post sharp declines, falling by almost 75% year-on-year while orders also retreated to the lowest since May, data showed on Tuesday.

For August, deliveries totaled 18 planes, comprising 11 of the 787 model, three of both the 777 and 767 types and a lone 737 variety. In July, deliveries were 19 in total and in August 2018, Boeing sent out 64 aircraft, with the majority 48 planes of the 737 type, data showed on Tuesday.

Total 2019 deliveries fell to 276 through August, compared with 481 for the same period last year. The company delivered 116 of the 737 models and 101 of the 787 variety, against 346 and 88 respectively for the models in the comparable 2018 period.

Boeing’s order and delivery activity has been hard hit this year after two fatal crashes involving the company’s 737 MAX models led to the jets being grounded around the world. Revenue in the second quarter sank 35%, Boeing said in July.

Orders for the company’s planes were also in retreat last month. Carriers ordered just six planes in August, comprising four of the 777 model and two of the 787 type. In July, Boeing’s orders were at 31 planes, including 10 of 777 variety and 21 of the 787 type.

In August 2018, the total orders were at 24, Boeing data showed, made up entirely of 737 planes. Boeing last booked an order for a 737 plane in April.

When the 737 is returned to service which is still uncertain Boeing could be limited in its pace of delivery because of the “sheer diversity of customers awaiting aircraft rather than the pace at which those customers can accept aircraft,” David Strauss, an analyst with Barclays, said in a note Tuesday. “With what we estimate is (greater than) 60 individual customers awaiting (about) 230 aircraft, we view BA’s issue as more depth than breadth.”

Boeing’s total number of unfilled orders stood at 5,730, with 4,544 of those being 737 MAX planes, the company said.

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