Boeing: When will there
be good news? — November 2019
The 737 MAX fleet remains parked, the return to service date is uncertain, deliveries this year are half those of 2018, Boeing is being assailed by lawsuits, attacked by Congressmen, key customers are losing patience. But maybe Boeing has touched the nadir and has positioned itself for a recovery over the next two years.
The net result for the first nine months of 2019 was a profit of $374m in contrast to $7.0bn in the same period of 2018. Total revenues fell to $58.6bn from $72.8bn, approximately $5.6bn of the $14.2 decline being due to a charge in respect of expected 737 MAX liabilities. Boeing’s deliveries totalled just 302 aircraft in the first nine months of 2019, down 47% on the same period in 2018; it should be noted that aircraft sales are only accounted for as revenue when the aircraft is completed and accepted by the customer.……