Boeing Maneuvers Amidst Halt in Aircraft Deliveries to China

Published 4 hours agoBA

Boeing Maneuvers Amidst Halt in Aircraft Deliveries to China

Boeing has confirmed that China has stopped accepting new aircraft deliveries amidst the ongoing U.S.-China trade tensions. This revelation came from CEO Kelly Ortberg, who stated the halt is a direct consequence of escalating trade policies between the two nations.

The situation has forced Boeing to redirect at least three aircraft previously bound for China and is now reallocating up to 50 jets to different global markets. According to reports, Boeing is actively seeking alternative buyers worldwide, and several airlines have already shown interest in the available aircraft.

In an effort to mitigate the impact of these trade issues, Boeing remains steadfast with its strategy. Despite the halt, the company is maintaining its production plans, particularly for the 737 Max, which is set to reach 38 units per month. Financially, Boeing's resilience is underscored by a narrowed first-quarter loss of $31 million, owing to a robust order backlog of 5,600 aircraft. Boeing's CEO Ortberg expressed a preference for a "non-tariff environment," which aligns with the position held by Airbus, amidst the backdrop of China's 125% tariffs in retaliation to 145% tariffs by the U.S.

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