Boeing Co deliveries slowed further in May from April as the coronavirus pandemic impact on airlines contributed to a year of crisis after the 737 MAX landed, company data said on Tuesday.
The U.S. aircraft maker said it delivered only four planes in May, compared to the six delivered in April, the lowest total in six decades and approximately 87% fewer than customers at the same time a year ago.
Deliveries are financially important to aircraft builders, as airlines pay most of the purchase price when they actually receive the aircraft.
Customers also canceled orders for another 18 aircraft last month, including 14 MAX jets, which were the company's best-selling aircraft until a crash just over a year ago.
While Boeing resumed production last week and expects the MAX to ship in the third quarter, many aircraft leasing companies and airlines, including Southwest Airlines, United Airlines and Brazil's GOL, have canceled or postponed delivery because the industry is facing one Air traffic collapse has occurred since January.
Reuters reported Tuesday that Emirates, one of the largest long-haul airlines in the world, fired hundreds of pilots and thousands of cabin crew.
Boeing shares fell more than 3% in the early afternoon.
Boeing received nine new contracts for wide-body aircraft. Deliveries included two 777 freighters, a 737 NG (Next Generation) aircraft for the U.S. military and a 767 freighter, but no passenger aircraft.
The cancellations in May came from a number of aircraft leasing companies, including three from Aviation Capital Group, one from CIT Aviation, four from General Electric Co's leasing department, and six unidentified customers.
Leasing companies that control over 40% of the global fleet are among the largest MAX customers.
After further accounting adjustments for jets that were ordered in previous years but are likely to no longer be delivered, Boeing's adjusted net orders dropped to 602 negative aircraft.
(Except for the headline, this story was not edited by NDTV staff and published from a syndicated feed.)