Boeing deliveries fall to 22 jets in February

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Boeing said on Tuesday it had delivered 20 of its 737 MAX narrowbodies and two freighters to aviation customers in February, reflecting rebounding travel and cargo demand, as deliveries of the 787 Dreamliner continue to stall.

Six of the 737 MAX jets Boeing handed to customers were for Irish budget carrier Ryanair, while United Parcel Service took one hump-backed 747-8 and German logistics company Deutsche Post DHL added a 777 freighter.

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In the same month a year ago, Boeing handed over the same number of aircraft. It delivered 32 jets in January and 38 planes in December.

Deliveries are closely watched by investors, as airlines pay the bulk of money for an aircraft when they pick up new planes from Boeing.

The 737 MAX and the 787 Dreamliner are crucial to Boeing’s ability to recover from the pandemic and catch up with Airbus , having lost the delivery race to its European rival for a third consecutive year.

Boeing aims to nearly double 737 MAX production by end-2023.

Boeing also booked 32 orders for 737 MAX aircraft, 18 of which were for Air Lease Corp, and 12 in which the buyer was not identified, the U.S. planemaker said.

Air Lease Corp canceled orders for four 787-9 Dreamliner aircraft.

Deliveries of Boeing’s advanced twin-aisle jet have been frozen for months as the company conducts painstaking inspections and repairs to address production-related structural defects.

Gross orders for the year increased from 77 to 114, or from 75 to 107 including instances when buyers canceled or swapped between models, Boeing said. Adjusted further for stricter accounting standards, orders for the year so far increased from 98 to 179, the company said.

As of the end of February, Boeing’s order backlog increased from 4,316 to 4,375.