Boeing reports fresh round of 737 MAX cancellations
The Boeing CEO says it will take three to five years for the airline industry to reach last year’s levels. – EPA pic, May 13, 2020.
BOEING reported another round of 737 MAX cancellations yesterday as its CEO warned that the industry downturn in the wake of the coronavirus pandemic may force a major airline out of business. Data on the aviation giant’s website showed 108 orders for the 737 MAX were cancelled last month, and Boeing also downgraded contracts for another 101 of the planes – an accounting move that lowers its backlog to below 5,000 units for the first time since 2013 and indicates weakening demand for its aircraft.
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