Welcome to Extreme Investor Network, where we bring you the latest and most insightful business news. Today, we have an update on Boeing’s airplane deliveries in the first quarter of the year.
Boeing, a major player in the aviation industry, saw a drop in its airplane deliveries in the first quarter, with the lowest number since mid-2021. This comes as the company faces increased scrutiny following an incident where a door plug blew out from one of its 737 Max 9 planes midair in January.
In the three months ended March 31, Boeing handed over 83 planes, most of which were 737s. This is a significant decrease from the 157 planes delivered in the prior quarter and 130 planes delivered in the same period last year. In comparison, Airbus delivered 142 planes in the first quarter of the year, with 63 of them delivered in March.
Despite the decrease in deliveries, Boeing continues to receive orders for new planes, with orders for 111 planes in the last month alone. Notably, American Airlines ordered 85 737 Max aircraft from Boeing in March.
In response to the incident in January, Boeing has slowed down its production to focus on improving quality control and avoiding delays. This includes addressing issues such as “traveled work,” where repairs or tasks occur out of sequence. Boeing CFO Brian West emphasized the company’s commitment to prioritizing quality over speed.
The incident also led to criticism from Boeing’s airline customers, with Alaska Airlines receiving $160 million in compensation from Boeing in the first quarter. The company is set to report its first-quarter results and update investors on April 24.
At Extreme Investor Network, we bring you unique insights and analysis of the latest business news. Stay tuned for more updates on Boeing and other key players in the market.
