An aerial photograph shows a Boeing 737 MAX aircraft parked on the runway at the Boeing Plant in Renton, Washington, March 21, 2019.
Lindsey Wasson | Reuters
Boeing customers canceled plans to buy 43 of the manufacturer’s troubled 737 Max planes in July as canceled orders outnumbered sales for the sixth consecutive month, the company said Tuesday.
The manufacturer̵7;s shares have fallen from their intraday highs but are still trading nearly 4% higher after Boeing released its monthly data.
Last month, Boeing said it would cut production targets for some of its planes including the 737 Max and 787 Dreamliner as the coronavirus pandemic continues to affect demand for new planes.
This year as of July, Boeing had 836 net negative aircraft orders, including those that the company has taken out of pending orders. Boeing often removes orders from its running tally when customers are in financial trouble, among other reasons. The July adjustments cut the Chicago-based aircraft manufacturer’s backlog to 4,496 orders.
Most 737 Max cancellations come from airline rental companies.
The company delivered four planes in July, including one 767 and one 777 as well as two 787 Dreamliners.
The pandemic has added to Boeing’s troubles since the 737 Max landing in March 2019 after two fatal crashes that left 346 people dead. The Federal Aviation Administration is close to allowing the planes to return but the company has yet to obtain final approval.
CEO Dave Calhoun told CNBC late last month that he “hopes” demand for the aircraft will begin to recover in the second half of 2021.