Boeing says its 777X orders fell a third after delivery delays

Boeing has reduced its supply of 777X aircraft by more than a third after the aerospace giant announced new delays in launching its new aircraft, according to a new securities depository.

The Chicago-based manufacturer said last week that it did not expect the 777X to go live until the end of 2023, more than two years later than previously expected. Boeing said the number of 777X orders at the end of 2020 was 191, up from 309 a year earlier, according to Monday’s filing.

Boeing usually removes the aircraft from its arrears due to an accounting rule that dictates how orders with a risk of cancellation are recorded. Aircraft purchase agreements generally allow customers to cancel orders more easily if aircraft are delayed.

Boeing took over a $ 6.5 billion fee in the fourth quarter for delays at 777X.

The company eliminated hundreds of 737 Max aircraft from the order book, in accordance with similar accounting rules and direct cancellations. Those narrow-body aircraft, Boeing’s best-selling airliner, are flying again after almost grounding two years after two fatal accidents.

Last week, Boeing said additional control over larger 777X aircraft regulations following the Max crashes, as well as a weaker appetite for new aircraft from customers amid the Covid pandemic, contributed to delays in the delivery of wide-body aircraft.