Boeing (NYSE:) said Tuesday it delivered 24 commercial planes in May, about half of the 50 jets delivered in the same month last year, as it continues to employ a slower assembly line to complete outstanding work.
The company also said it was producing fewer single-aisle MAX jets to improve production quality after a door plug explosion on a 737 MAX 9 plane on Jan. 5 led to increased regulatory scrutiny.
Boeing delivered 19 MAX jets in May, up three from April but down 45% from the 35 jets delivered the same month in 2023.
Analysts at Barclays estimate that Boeing has delivered 43 MAX jets so far in the second quarter, “including 10 out-of-stock deliveries.” In June alone, Boeing delivered 8 MAX planes, according to the investment bank.
“Analysts estimate that ~100 (down from ~450) or ~40% of the MAX aircraft still in stock (~255) are planes that have been in storage since the grounding,” they added.
“Analysts estimate that many of these planes are destined for Chinese airlines and are currently parked for an average of four years. Analysts estimate that of the remaining aircraft in inventory, ~55% are owned by North American airlines and ~30% are owned by Chinese airlines, with ~55% having been parked for over a year.
