Boeing reported 135 net new orders for April, a monthly intake that nearly matches the company's net bookings in the first three months of the year. After accounting for cancellations and conversions, the company has accumulated 284 net orders through the first four months of the year, the highest such total for that period since 2014.
Despite the stronger bookings, Boeing remains behind its European competitor on volume. Airbus has booked 405 orders after cancellations and conversions through April 30. In terms of deliveries, Airbus handed over 67 jets in April.
Boeing delivered 47 jetliners in April, one more than it delivered in March. Deliveries are closely watched by investors because customers typically remit most of the payment when aircraft are handed over. April's deliveries at Boeing comprised 34 of the 737 MAX family and six 787s.
Certification delays affecting premium seating configurations have continued to constrain deliveries of the 787, the company said. Nevertheless, Boeing's finance chief, Jay Malave, told investors on the company's recent earnings call that the firm still expects to deliver between 90 and 100 of the 787 twin-aisle jets this year.
April's order intake was weighted toward Boeing's widebodies as well as its single-aisle workhorse. The month included orders for 57 737 MAX aircraft and 51 787s, largely attributed to unidentified customers. In addition, the company recorded 28 orders for the 777X from undisclosed buyers.
Progress on the long-delayed 777X continues, with Boeing working through certification steps. The first passenger-configured 777-9 completed its first flight on May 7. That aircraft, ordered by Lufthansa, had originally been scheduled to fly in April; Boeing noted that test flight timetables can shift for a variety of routine reasons.
Context for investors and market participants
- Net bookings of 284 through April mark Boeing's strongest start to a year since 2014, after adjustments for cancellations and conversions.
- Deliveries rose to 47 in April, including 34 737 MAX jets and six 787s, which affects near-term cash receipts.
- Certification and testing timelines for the 787 and 777X continue to influence Boeing's delivery cadence and revenue recognition schedule.