financetom
Business
financetom
/
Business
/
Boeing October Deliveries Decline to 14 Amid Labor Strike Impact
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Boeing October Deliveries Decline to 14 Amid Labor Strike Impact
Nov 12, 2024 3:41 PM

02:46 PM EST, 11/12/2024 (MT Newswires) -- Boeing ( BA ) reported a drop in deliveries in October sequentially and annually as a labor strike that lasted for more than seven weeks impacted aircraft production.

The jet maker delivered 14 aircraft last month, compared with 33 in September and 34 in October 2023. The latest count marked Boeing's ( BA ) lowest monthly total since November 2020, Bloomberg News reported.

October's deliveries included nine 737 Max aircraft, data on its website showed Tuesday.

Boeing ( BA ) last week reached a labor deal with members of the International Association of Machinists and Aerospace Workers union that represents about 33,000 of Boeing's ( BA ) employees that had been on strike since mid-September.

Union-represented workers are required to return to work by Tuesday, according to information posted on Boeing's ( BA ) website. The company didn't respond to MT Newswires' request for comment on the latest delivery numbers.

"As a result of the strike, production of our commercial aircraft, other than the 787 production in Charleston, and certain of our Defense, Space & Security products has halted, adversely impacting our business and financial position," Boeing ( BA ) said late last month.

Orders totaled 63 in October, down from 65 in September and more sharply from 123 in October 2023, according to Boeing's ( BA ) data. Shares of the company declined 2% in afternoon trade.

In October, the company reported a larger-than-expected adjusted loss for the third quarter and announced an offering of 90 million common shares as the strike dragged on.

The Federal Aviation Administration issued a safety alert in October regarding the potential for limited or jammed rudder movement for certain Boeing 737 models.

The company received 378 orders and delivered 305 planes this year through the end of October.

Price: 145.96, Change: -3.01, Percent Change: -2.02

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
SJVN secures 200-MW wind power project at ₹3.24 per unit
SJVN secures 200-MW wind power project at ₹3.24 per unit
Nov 16, 2023
Projected to generate 482 million units in its inaugural year post-commissioning, the cumulative energy generation over a 25-year span is anticipated to reach 12,050 million units. Shares of SJVN Ltd ended at ₹75.17, down by ₹0.50, or 0.66%, on the BSE.
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Nov 28, 2023
The firm and dispatchable renewable energy (FDRE) project, designed with a hybrid of solar, wind, and battery storage, is aimed at providing a stable and dispatchable energy supply during peak hours. Shares of Tata Power Company Ltd ended at ₹270.75, up by ₹12.60, or 4.88%, on the BSE.
This sustainable jewellery brand is luring some women away from gold
This sustainable jewellery brand is luring some women away from gold
Oct 30, 2023
Aulerth's offerings range from ₹5,000 to as high as ₹2.8 lakh. Are women willing to spend this much on jewellery made from scrap? Founder and CEO Vivek Ramabhadran definitely believes so. Aulerth produces couture-inspired pieces in association with designers like JJ Valaya, Suneet Varma, among others. It has reported 33% repeat customers in the past year and expects a spike to 40% soon.
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Nov 15, 2023
Th Suzlon wind turbines received the RLMM (Revised List of Models & Manufacturers) listing from the Ministry of New and Renewable Energy, marking an important milestone for the successful commercialisation of the product. Shares of Suzlon Energy Ltd ended at ₹40.49, up by ₹1.85, or 4.79%, on the BSE.
Copyright 2023-2026 - www.financetom.com All Rights Reserved