Boeing Cancellations Continue to Outpace New Orders
Boeing (NYSE: BA) in July recorded a sixth straight month with more cancellations of commercial aircraft orders than new orders being placed, a continuing pattern that reflects the impact the COVID-19 pandemic has had on the air travel industry.
The aerospace giant said Tuesday that customers canceled a total of 43 orders for its 737 Max in July, with an additional nine aircraft removed from its backlog due to customers facing financial challenges. The company received no new orders in the month. As a result, its total order backlog fell to a still-impressive 4,496 jets.
Image source: Boeing.
Source Fool.com
