Boeing 737 Max orders for 350 planes were cancelled this year
Boeing had cancelations for more than 350 737 Max jets in the first half of 2020.
Overall deliveries during the first half also tanked by 71% to only 70 planes due as aviation firms cut their cash bun to survive the Covid-19 downturn.
However the 10 planes it delivered in June is up slightly compared to April and May.
Boeing received cancelations for 60 orders for the 737 Max last month, mostly from aircraft lessors.
Romanian carrier Blue Air also canceled an order for six 737 Max planes.
American Airlines last week reportedly warned it may cancel some of its outstanding 737 Max orders.
So far this year, Boeing has a net order deficit of 784 planes this year,
According to Bank of America, deliveries for nearly 2,500 Max planes have been postponed by at least a year.
"We have and will continue to work with our customers on specific timing and adjustment to deliveries," said Boeing CFO Greg Smith.
"The order revisions will help dictate production rates to balance supply and demand."
Boeing’s defence contracts will help it weather the storm.
The plane maker unveiled a $1.2 billion deal for the first of eight F-15EX fighter jets for the US Air Force.
The contract could be worth much as $23 billion over the next decade.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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