An aerial photo shows Boeing 737 MAX aircraft parked in tarmacs at the Boeing plant in Renton, Washington, March 21, 2019.
Lindsey Wasson | Reuters
Boeing customers canceled plans to buy 43 of the 737 manufacturers’ troubled aircraft in July as orders removed outpaced sales for a sixth straight month, the company said on Tuesday.
The manufacturer’s shares were eased by the day’s high levels, but were still trading nearly 4% after Boeing released monthly data.
Boeing last month said it would cut production targets for some of its aircraft, including the 737 Max and 787 Dreamliner as the coronavirus pandemic continues to hurt demand for new aircraft.
This year through July, Boeing has net negative orders of 836 aircraft, including aircraft the company received from its backlog of orders pending compliance. Boeing routinely removes orders from its date when customers are financially strained, among other reasons. The July adjustments cut the Chicago-based aircraft manufacturer̵7;s rear end to 4,496 orders.
Most of the 737 Max cancellations were from aircraft rental companies.
The company delivered four aircraft in July, including one 767 carrier and one 777 carrier, as well as two 787 Dreamliners.
The pandemic adds to Boeing ‘s problems since the March 2019 announcement of the 737 Max, following two fatal crashes that killed 346 people. The Federal Aviation Administration is getting closer by allowing the planes to fly again, but the company needs to gain final approval.
CEO Dave Calhoun told CNBC late last month that he was “hopeful” aircraft demand would begin to recover in the second half of 2021.