Boeing orders down by nearly 50% as 737 Max woes bite

Boeing orders down by nearly 50% as 737 Max woes bite

Boeing orders down by nearly 50% as 737 Max woes bite

The aerospace giant delivered 149 commercial planes in all in the first quarter, including 89 of the 737 MAX aircraft.

Airlines are holding off on orders for Boeing's 737 Max - the latest sign of how deeply the company's best-selling jet has been thrown into crisis. There were no orders in March, the month that a 737 Max jet flown by Ethiopian Airlines pilots crashed in that country, killing everyone aboard.

Some of the routes which are cancelled on both April 9 and 10 include Hyderabad, Dubai, Salalah, Kuwait, Bahrain, Dammam, Bombay, Riyadh and Nairobi.

The FAA said last week it was forming an global team to review the safety of the aircraft, grounded worldwide following two deadly crashes - in Indonesia in October and in Ethiopia last month - that killed almost 350 people.

Deliveries of finished Max jets also tumbled, to 11 from 26 in February.

Last week, Boeing announced that it will cut production of 737s from 52 a month to 42 a month.

Deliveries are financially important to plane makers because that's when airlines pay most of the money. In all, 346 people died.

So far, the overall impact of the 737 MAX disruption has been lessened, as it occurred after the Chinese New Year peak season, ThePaper reported, citing an airline spokesperson.

Lawyer Michael Indrajana said that since the crash, families in Indonesia have faced a complicated and painful process against Boeing and Lion Air in their battle to get compensation.

Also on Tuedsday, American Airlines trimmed its first-quarter forecast for unit revenue as it cancelled hundreds of flights during the period, mainly due to the groundings of its 24 Max planes, according to Reuters.

Boeing's stock fell 4 percent on April 8.

American said it was too early to project the total cost of the suspended operations of the 737 MAX in the wake of two deadly crashes. Boeing CEO Dennis Muilenburg released a statement acknowledging the cause of the the recent Lion Air Flight 610 and Ethiopian Airlines Flight 302 accidents resulting from a chain of events beginning with the maneuvering characteristic augmentation system (MCAS).

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