Boeing had more cancellations than orders in 2019 as 737 Max crisis deepens

Boeing 737 Max Planes Sit Idle As Company Continues To Work On Software Glitch That Contributed To Two Fatal Jetliner CrashesPhoto by David Ryder/Getty Images

Boeing ended the year with negative commercial airplane orders for the first time in decades, CNBC reports. At the end of 2019, the aerospace giant lost orders for 87 airplanes, meaning it had more cancellations than new orders.

The high rate of cancellations is the latest sign that the crisis surrounding the 737 Max — the airplane involved in two fatal crashes that took the lives of 346 people — is continuing to affect Boeing’s bottom line. Its order book for the troubled jet shrank by 183 planes — though much of that had to do with some low-cost overseas airlines, like India’s Jet Airways and Vietnam’s VietJet, going bankrupt. But thanks to ongoing problems getting the 737 Max certified, there wasn’t enough demand to make up the…

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Author: Andrew J. Hawkins