Rise in aircraft deliveries boosts Boeing’s quarterly profits

Rise in aircraft deliveries boosts Boeing’s quarterly profits

A 9% rise in aircraft deliveries to airlines helped lift first quarter profits at Boeing.

Revenues for the US manufacturer’s commercial airplanes division rose by 5% year-on-year to $13.7 billion reflecting higher deliveries.

The company’s overall net profits for the three months soared by 57% to $2.5 billion as revenues hit more than $23 billion.

Boeing reported a “robust” backlog worth $486 billion, including 5,800 commercial aircraft valued at $415 billion.

Deliveries to airlines rose to 184 aircraft from 169 in the same period last year including the first Boeing 787-10 Dreamliner to Singapore Airlines and the first 737 MAX 9 to Indonesian low cost carrier Lion Air.

Boeing booked 221 orders during the three months.

The 737 programme reached milestones during the quarter, including first flight of the 737 MAX 7 and firm configuration of the 737 MAX 10.

More than 4,400 orders have been placed since the launch of the 737 MAX, including a recent order from Jet Airways for 75 additional aircraft.

Boeing chairman, president and CEO Dennis Muilenburg said: “Customers continue to recognise the value of our products and services, with strong orders booked in the quarter for defence, services and commercial offerings, including 221 net commercial aircraft orders.”

“We achieved the first flight of the 737 MAX 7, and delivered the first 787-10 Dreamliner and the first 737 MAX 9.

“Our team’s strong first-quarter performance, combined with the positive market outlook across our businesses and our confidence in executing on our production and development programmes, gives us a solid foundation to raise our guidance for the year.

“Going forward, we remain focused on our disciplined growth strategy, improved profitability and cash flow to ensure we meet our commitments to our customers and our shareholders.”

Comments

This is a community-moderated forum.
All post are the individual views of the respective commenter and are not the expressed views of Travel Weekly.
By posting your comments you agree to accept our Terms & Conditions.

More in air