Monday 17 June 2019

Boeing hits new high as it delivers 806 jets after year-end push

Boeing netted orders for 893 jetliners last year. Stock photo: AFP/Getty Images
Boeing netted orders for 893 jetliners last year. Stock photo: AFP/Getty Images

Julie Johnsson

Boeing delivered a record 806 commercial aircraft in 2018, edging out Airbus SE to retain the crown as world's largest planemaker as both manufacturers kept factories churning late into December to overcome earlier supplier shortfalls.

The US industrial titan also revealed a last-minute flurry of aircraft orders, enabling it to sell more jets than it built in 2018.

Boeing netted orders for 893 jetliners last year with a list value of $143.7bn (€125.4bn), padding its backlog and easing investor concerns that US-China trade tensions and whipsawing oil prices could soften demand for new planes.

For Boeing and Airbus, aerospace's duelling duopolists, year-end order and delivery totals provide bragging rights - and a first hint of the company earnings reports to be announced over the next month.

Airbus met its twice-lowered delivery goal of 800 jets in 2018, according to preliminary results released yesterday.

The tallies face special scrutiny this year since both manufacturers worked through the year-end holidays to overcome shortages of engines and other parts that have slowed shipments of their highly profitable single-aisle jets.

Boeing advanced 3.2pc to $338.48 at 12.04pm in New York, the biggest gain on the Dow Jones Industrial Average. Airbus climbed 3.7pc to €86.65 at the close in Paris as the delivery total gave a boost to incoming CEO Guillaume Faury, who pushed to improve production.

Airbus's final results will be published after the market close on Wednesday.

Boeing delivered 69 of its 737 airplanes in December to bring total shipments of the narrow-body family, its largest source of profit, to 580.

That was less than the 593 deliveries predicted by George Ferguson, an aerospace analyst at Bloomberg Intelligence. Boeing missed a goal of delivering a total of 810 to 815 jets for the year.


Irish Independent

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