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Boeing cuts its order book following Ukraine invasion / Photo: Jason Redmond - AFP/File
NYSE - LSE
Boeing cuts its order book following Ukraine invasion
Boeing has removed orders for 141 jets from its backlog, mostly due to sanctions placed on Russia in the aftermath of the Ukraine invasion, officials from the plane manufacturer said Tuesday.
Most of the planes stripped from Boeing's official tally were 737 models, with about two-thirds coming as "a result of geopolitical events," a Boeing spokesperson said.
The removal of the Russian jets from Boeing's backlog comes as the company also again reported no deliveries from its 787 Dreamliner for the first quarter.
On the positive side, the company added a net of 145 new jet orders during the quarter as more people traveled and global economies recovered from the worst of the pandemic.
Boeing now holds orders for 4,231 new planes, down from 4,375, according to an update for March orders and deliveries.
The Commerce Department on April 7 announced that Russian state airline Aeroflot, Azur Air and Utair were barred from receiving American goods for the next 180 days.
The move was part of a series of steps by Washington and other Western governments in response to Moscow's invasion of Ukraine.
In the first quarter, Boeing reported 95 commercial deliveries compared with 77 in the year-ago period. The biggest jump was for the 737, reflecting Boeing's resumption of deliveries for the 737 MAX following a lengthy grounding.
Deliveries of the 787 have been halted since May as Boeing works to satisfy demands to address quality and manufacturing problems flagged by the Federal Aviation Administration.
(K.Lüdke--BBZ)
