Boeing received zero orders for aircraft in the month of October. Despite the setbacks caused by the coronavirus pandemic, European competitor Airbus received 11 new orders in the month of October.
According to a report by the Seattle Times published on Tuesday, Boeing’s sales woes continued through the month of October, logging no orders for airplanes and delivering just 13 airplanes based on existing orders, as compared to 72 deliveries by Airbus.
During Boeing’s Q3 earnings call, which took place on October 28, Chief Financial Officer and Executive Vice President Greg Smith said that the decrease in sales is a result of the extra time that the company is putting into ensuring that each aircraft is ready for use.
As you saw in the second and third quarter, our production has outpaced our delivery rate. And we expect this to continue in the near term, resulting in higher finished goods inventory. We have a large number of undelivered 787 aircraft in inventory, and we are working with our customers to facilitate their deliveries. The burndown of 787 inventory over the next few months will largely be influenced by the pace of delivery activities, which has been and expected to remain relatively slow due to the additional time we’re taking to inspect and ensure each of our 787s are delivered to our highest quality standards.
But Boeing’s misfortunes may soon be reversed. Breitbart News reported this week that the FAA is preparing to approve Boeing’s 737 Max fleet for a return to the airways. The fleet was grounded by aviation authorities around the globe after flaws in its flight system led to two fatal crashes in 2019. As a result, Boeing was forced to cancel 595 orders for 737 Max jets this year alone.
Boeing delivered on six existing orders for widebody freighter jets in October. Two of the six jets delivered were purchased by the U.S. military.
Stay tuned to Breitbart News for more updates on Boeing.
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