Boeing says its 777X orders have fallen by a third after delivery delays
A Boeing 777X aircraft flies over the Boeing Everett Factory
David Ryder | Reuters
Boeing cut its backlog of 777X aircraft by more than a third after the aerospace giant announced new delays for the debut of its newest aircraft, according to a new securities filing.
The Chicago-based manufacturer said last week it doesn’t expect the 777X to go live by the end of 2023, more than two years later than previously expected. According to Boeing on Monday, the 777X order list at the end of 2020 was 191 compared to 309 in the previous year.
Boeing routinely removes aircraft from its order book because a billing rule dictates how orders that are at risk of being canceled are logged. In general, aircraft purchase agreements make it easier for customers to cancel orders when aircraft are delayed.
Boeing charged a $ 6.5 billion fee for delays on the 777X in the fourth quarter.
The company has removed hundreds of 737 Max orders from its order book under similar accounting rules and full cancellations. These narrow-body aircraft, Boeing’s best-selling jetliner, are flying passengers again after almost a while grounding for two years after two fatal accidents.
Boeing said last week that additional regulatory scrutiny of the larger 777X aircraft after the Max crashes, as well as weaker customer appetite for new aircraft amid the pandemic, would add to delays in the delivery of the wide-body aircraft.