Boeing says deliveries nosedived in Q1

Boeing Co (NYSE: BA) is trending down at writing after reporting a big decline in its quarterly deliveries.

How many planes did Boeing deliver in the first quarter?

The aerospace giant delivered a total of 83 planes only in the first quarter of this year – down significantly from 157 in the final quarter of 2023.  

On the plus side, $BA continues to receive new orders from its customers despite ongoing concerns related to the quality and safety of its aircraft considering it logged 111 orders for new planes in March.

The New York listed behemoth has already confirmed plans of slamming the brakes on production to address the aforementioned issues.

Boeing has been under pressure in 2024

Note that Boeing had delivered 130 planes in the first quarter of in 2023.  

But it has been under immense pressure since the Alaska Airlines episode this year. The air carrier recently said $BA paid it $160 million in compensation related to the grounding of its plane following the said incident.

Several other complaints related to the quality and safety of its jetliners in recent months made Dave Calhoun – the chief executive of Boeing resign in March as Invezz reported here.

The multinational based out of Arlington County, Virginia is scheduled to report its Q1 financial results on April 24^th. Consensus is for it to lose $1.03 a share versus $1.27 per share a year ago.