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Home / US / Boeing profit in Q1 2019 meets expectations, but does not disappoint

Boeing profit in Q1 2019 meets expectations, but does not disappoint



Boeing said it had completed more than 135 test and production flights with updated software for the 737 Max. The US aviation authority and regulators around the world grounded the plane in mid-March following the crash of an Ethiopian Airlines aircraft. The crash came five months after the crash of a Lion Air 7737 Max in Indonesia. A total of 346 people died in the crashes.

It is expected that the company will shortly be submitting its plan to fix Max at the FAA, people familiar with the matter report to CNBC Airline's $ 399 billion business with more than 5,600 orders. This is a decline from the previous quarter, which had a backlog of $ 41

2 billion with more than 5,900 orders.

The company's largest business, Boeing's commercial aircraft business, saw a 19% drop in deliveries over the quarter to 149 aircraft out of 184 aircraft. This decrease is largely due to the foundation of the 737 Max as the aircraft accounts for the bulk of Boeing's backlog. Goldman Sachs estimates that the 737 Max accounts for 33% of Boeing's revenue over the next five years.

US. Airlines that had flown 737 Max aircraft have taken the jet out of the flight schedule until August. Southwest Airlines, American Airlines and United Airlines extended thousands of flight cancellations throughout the summer, an important travel period for airlines.


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