Record Year For Boeing
Boeing reported that it delivered more commercial airplanes than any other manufacturer for the sixth consecutive year and set an industry record with 763 deliveries in 2017. The results were driven primarily by high-volume output of its 737 and 787 jets. The company, whose shares have more than doubled over the last 12 months, also reported that it grew its manufacturing backlog with 912 net orders reflecting heavy and popular demand for its commercial product line. The order book represents approximately seven years of production at current levels.
The company reached a new high on the 737 program by raising production to 47 units a month and delivering 529 aircraft including 74 of its newest MAX 737 variant, in use by carriers such as Southwest Airlines and American Airlines. Carriers that have started using the new MAX 737’s in line operations have reported significant reductions in fuel consumption over previous-generation airframes. “The strong sales activity reflects continuing strong demand for the 737 MAX family, including the ultra-efficient MAX 10 variant that we launched last year, and the market’s increasing preference for Boeing’s family of twin-aisle jets,” said Boeing Commercial Airplanes President & CEO Kevin McAllister. Boeing’s competitive rival, Airbus, the primarily European aerospace giant, is expected to announce its 2017 sales and delivery totals next week.