Boeing's (BA 1.51%) order book continued its downward trajectory in October, with the company reporting falling year-over-year deliveries and 12 lost 737 MAX orders for the month.
The company delivered four 787 Dreamliners during the month, as well as a handful of freighters and a military patrol aircraft. Including deliveries and cancellations, Boeing's backlog at month's end stood at 4,275 planes, with the 737 MAX accounting for more than 75% of that total.
Image source: Boeing.
Boeing for the year has now delivered 111 aircraft, down from 321 in the first 10 months of 2019.
The company's commercial aerospace unit has been crippled by the combined impact of the March 2019 grounding of the 737 MAX due to safety concerns and more recently the coronavirus pandemic, which has cut into airline demand for new planes. Boeing year to date has recorded more than 1,000 order cancellations or adjustments.
Airbus (EADSY -4.02%) by comparison delivered 72 planes during the month and booked 11 new orders.
But investors do have reason to hope October will be one of the last of the dismal monthly updates. The 737 MAX appears close to being cleared to fly again, with regulators reportedly considering making an announcement as soon as next week. And Southwest Airlines, one of Boeing's most important customers and the airline with one of the largest orders for the 737 MAX on record, seemingly has no interest in abandoning the aircraft.
