Boeing net orders down 800 in YTD 2020

Associated Press has reported Boeing has lost more than 800 net orders so far this year, as it struggled with both the pandemic and the ongoing grounding of the Max, the news source said.

Boeing sold no planes to commercial airlines and customers canceled orders for 43 of its 737 Max jet last month as the aircraft-maker continued to struggle with both the pandemic and the ongoing grounding of the Max after two deadly crashes.

Cancellations reported on August 11 were down from 60 the month before. Boeing shares gained 3% in midday trading.

With the cancellations and other orders now in jeopardy, Boeing´s backlog of unfilled orders fell below 4,500 airliners.

Boeing Co. delivered just four planes in July compared with 19 in the same month last year. That is a blow to Boeing´s ability to generate cash because airlines typically pay half or more of the purchase price when the plane is delivered.