Boeing airplane orders rise to highest level since late 2023 ahead of Paris Air Show
Boeing's gross orders for new airplanes hit 303 last month, the most since December 2023, as the company makes strides against its rival Airbus and works to stabilize production of its bestselling jets near the Federal Aviation Administration limit.
The manufacturer handed over 45 aircraft in May, in line with the month before but higher than the 24 it delivered a year earlier.
This year through May, Boeing delivered 220 airplanes to customers, while Airbus delivered 243 planes. Deliveries are key to Boeing and Airbus generating cash since the bulk of an airplane's price is paid when the jet is handed over.
Net of cancellations and conversions, Boeing has logged orders for 512 planes this year, compared with 215 for Airbus. More orders could be signed next week at the Paris Air Show — a trade event where companies get a chance to showcase new technology and aircraft, and strike deals.
The FAA capped Boeing's 737 Max production at 38 a month last year after a door plug blew out of a nearly new Max 9 as it climbed out of Portland, Oregon. While no one was seriously injured in the accident, the new safety crisis hit Boeing's output.
Boeing CEO Kelly Ortberg said the company is planning to stabilize its production line at the current rate around 38 a month and then could seek permission from the FAA to raise that rate.
Net of cancellations, Boeing logged 345 orders last month, 146 of them for 737 Maxes and 157 for 787 Dreamliners and yet-to-be-certified 777X planes in a massive wide-body order from Qatar Airways. The deal was signed during President Donald Trump's visit to Doha, Qatar, last month.
Ortberg said late last month that Boeing expects to resume deliveries of planes to Chinese airlines this month after a pause during the trade war between the Trump administration and Beijing.
Including accounting adjustments, Boeing has received 606 net orders this year, and its backlog was 5,943 at the end of May.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
39 minutes ago
- Yahoo
Trump says he is open to extending trade deal deadline for other countries: 'I would'
President Donald Trump said Wednesday he was willing to extend the deadline for countries to reach a trade deal with the United States, but he doesn't think it will be necessary. At the same time, he also indicated that in one to two weeks his administration would be sending out letters telling countries "what the deal is." Trump made the remarks ahead of a performance of "Les Misérables" that he attended at the Kennedy Center in Washington with the first lady. Trump Administration Prevails As Appeals Court Pauses Lower Court Decision Blocking Contested Tariffs "I would," Trump said when asked if he would be willing to extend the July 8 deadline for countries to negotiate a trade deal or else face steep tariffs. "But I don't think we're going to have that necessity," the president added, telling reporters "we're rocking in terms of deals" right now. Shortly after announcing sweeping tariff policies on April 2 for virtually every U.S. trading partner, the Trump administration chose to institute a 90-day pause to give countries a chance to make a deal with the United States. Read On The Fox News App Trump noted during the gaggle with reporters ahead of Wednesday's Kennedy Center performance that the United States remains in talks with about 15 countries with whom it is still trying to cement a deal. But the president said that he intends to send letters to these partners setting unilateral tariff rates if a deal is not reached. "We're dealing with Japan. We're dealing with South Korea. We're dealing with a lot of them. We're dealing with about 15 countries. But as you know, we have about 150-plus, and you can't [make a deal with all of them]. So we're going to be sending letters out in about a week and a half, two weeks, to countries and telling them what the deal is." Trump's Tariff Strategy Could Pay For His Tax Bill, But Only If They Stick, Experts Warn "At a certain point, we're just going to send letters out … saying this is the deal, you can take it or leave it," Trump added. Highly anticipated trade talks with China held in London this week led to a preliminary agreement between the world's two biggest economic powers, but the "framework" is still pending final approval from Chinese President Xi Jinping and Trump. "We made a great deal with China. We're very happy with it," Trump told reporters at the Kennedy Center on Wednesday evening. "We have everything we need, and we're going to do very well with it. And hopefully they are, too."Original article source: Trump says he is open to extending trade deal deadline for other countries: 'I would'
Yahoo
43 minutes ago
- Yahoo
Morning Bid: No relief from US-China trade truce
A look at the day ahead in European and global markets from Johann M Cherian European investors are set to wake up to a souring mood as rapidly rising tensions in the Middle East and yet another tariff salvo from U.S. President Donald Trump triggered a new wave of dollar-selling and risk-off moves. The much-hyped U.S.-China talks culminated in a fragile truce that may have put a lid on simmering trade tensions between the world's top two economies for now but the lack of details has left investors unnerved. For starters, China President Xi Jinping is yet to give his approval on the 'deal'. And details on how the new tariffs will be implemented are yet to be ironed out and U.S. export restrictions on high-end artificial intelligence chips are still in place. And with the July 8 deadline on worldwide tariffs fast approaching, Trump is back to his unilateral style of policymaking as he said he would send out letters in one to two weeks outlining terms of trade to dozens of other countries, which they could embrace or reject. Markets will be hoping for another TACO moment. While backward looking inflation reports are yet to reflect the price pressures, companies are starting to sound the alarm. Zara-owner Inditex was the latest to issue a disappointing quarterly report and flag headwinds from trade uncertainty. And as if investors did not have enough to juggle with already, geopolitical tensions in the Middle East are flaring, adding to the risks of rising crude prices fuelling inflation pressures. Supply concerns out of the oil-rich region pushed Brent and West Texas Intermediate futures to two-month highs of nearly $70 a barrel each. In all of this, as my colleague Jamie McGeever points out, valuations in equities and stocks are beginning to appear stretched, compounding the risks to investors in the event of a market selloff. European futures were down 0.7%, while futures in the U.S. are pointing to a lower open on Thursday, but the benchmark indexes in the regions are just about 2% away from their respective record highs. Further, investors continue to question the dollar's safe-haven status. On Thursday, the euro hit a seven-week high and is up 11% this year, poised for its biggest yearly advance since 2017. The central bank bonanza next week could perhaps throw more light on the global economy's outlook. The U.S. Federal Reserve along with the Bank of Japan and the Bank of England are due to announce their policy decisions. Meanwhile, investors will look for a string of UK economic data including reports on gross domestic product and manufacturing output later in the day. Both are expected to reflect a decline in activity on a monthly basis, reigned in by the BoE's cautious approach to monetary policy easing. Key developments that could provide more direction to markets on Thursday: - In the UK: GDP, industrial output, manufacturing output and trade data - In the U.S.: Producer inflation data, initial weekly jobless claims report and an auction of 30-year bonds worth $22 billion - Policymakers expected to speak include ECB's Jose Luis Escriva, Reserve Bank of Australia's David Jacobs - UniCredit CEO sees slim hopes of BPM deal, says Commerzbank too costly - Oracle raises annual forecast on robust cloud services demand - Warner Bros' credit rating downgraded to junk by Fitch on split-up (By Johann M Cherian; Editing by Muralikumar Anantharaman) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
an hour ago
- Business Insider
Voyager soars 82% on first day of trading as defense tech booms
Defense tech company Voyager Technologies closed its first day of trading 82% higher than its initial public offering price. Voyager, which provides software for space and defense tech companies, priced its New York Stock Exchange debut at $31 per share on Tuesday. It offered 12.4 million shares and closed at $56.48 per share on Wednesday. Shares continued climbing after hours. Voyager plans to use the cash injection from the offering to fund investment in research and development programs and buy assets needed for growth, the company said in a statement on Tuesday. A portion of the proceeds may also be used to pursue mergers and acquisitions in Voyager's core business areas. The rest will be used for repaying debt and the business's day-to-day needs, the company said. Morgan Stanley and JPMorgan jointly led the offering. Early investors in Voyager include national security-focused venture firms Industrious Ventures, Marlinspike, and Scout Ventures. Voyager's IPO is an outlier because most venture-backed companies have preferred to stay private, especially after the pandemic. Like many tech companies that go public, Voyager is unprofitable. Founded in 2019, it's younger than peers like Palantir, which was founded in 2003 and went public in 2020, and Anduril, which was founded in 2017 and remains a private company. Voyager also relies largely on one client: the US government. The company posted $144 million in revenue last year, out of which 80% came from US government work. NASA alone made up 25% of its sales last year. Voyager reported a loss of $66 million in 2024, over double the prior year's loss, according to a regulatory filing. The IPO pop shows a renewed interest in defense and space tech companies from Silicon Valley and Washington alike. In an inaugural speech in January, President Donald Trump said that "We will pursue our manifest destiny into the stars, launching American astronauts to plant the Stars and Stripes on the planet Mars." Late last month at the Shangri-La Dialogue in Singapore, Defense Secretary Pete Hegseth, who has been bullish on battlefield tech, said that America's military will be equipped with the most advanced capabilities as part of the 2026 fiscal year budget. US military leaders have increasingly prioritized the development of AI capabilities in recent years, and want to build up America's arsenal in the technological arms race with China. They have argued that whichever country dominates this tech space will win future conflicts. Top VCs, including Founder's Fund and Andreessen Horowitz, have been pouring into defense tech darlings like Anduril and Shield AI. In March, Shield AI raised $240 million in a funding round, boosting its valuation to $5.3 billion. Last week, Anduril closed a new funding round of $2.5 billion, a deal that more than doubled the defense startup's valuation to $30.5 billion.
