Boeing (NYSE:BA) cratered June deliveries to 60 jetsa 27% jump year-over-yearincluding its first planes to China since tariff truce restored shipmentswhile rival Airbus (EADSY) delivered 63.
June's haul for Boeing comprised 42 737 Max airliners, nine 787 Dreamliners, four 777 freighters and five 767s (three destined as KC-46 tankers). Southwest Airlines (NYSE:LUV) picked up ten of the Max jets. Chinese carriers received five Maxes, a Dreamliner and two 777 freighters after Beijing lifted its April ban. Airbus kept pace with 63 deliveries in the same period.
Deliveries trigger hefty customer payments, so ramping handovers bolsters Boeing's cash flow amid past production delays and quality setbacks. Restored China shipments reopen a vital revenue stream as Boeing works down a 280-jet H1 backlog.
Boeing also booked 116 gross orders54 Max and 62 787in June, though order activity eased from May's peak. With 668 gross orders year-to-date, Boeing is squeezing out recovery, even as cancellations (e.g. Singapore Airlines trimming three Maxes) nibble at net figures.
This article first appeared on GuruFocus.