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 >
Canopy Growth CEO Says German Cannabis Market Has 'Ability To Grow 10x' Following Legalization
Canopy Growth CEO Says German Cannabis Market Has 'Ability To Grow 10x' Following Legalization
Mar 26, 2024
The German government partially legalized cannabis last week, and Canopy Growth Corporation ( CGC ) shares lit up. Canopy Growth ( CGC ) CEO David Klein joined BNN Bloomberg on Friday to discuss what the legislation means for the company. Growth Opportunities: Klein sees Germany's cannabis market growing from its current value of just under $500 million to over $2.5...
Phillips 66 explores sale of REX interstate pipeline stake worth over $1 billion, sources say
Phillips 66 explores sale of REX interstate pipeline stake worth over $1 billion, sources say
Mar 26, 2024
(Reuters) - U.S. oil refiner Phillips 66 is exploring a sale of its 25% stake in the Rockies Express Pipeline that it hopes could be worth more than $1 billion, including debt, people familiar with the matter said on Tuesday. The Rockies Express Pipeline (REX) is a 1,700-mile interstate natural gas pipeline, stretching from Wyoming and Colorado in the Western...
Walmart can end Capital One credit card partnership early, US judge rules
Walmart can end Capital One credit card partnership early, US judge rules
Mar 26, 2024
NEW YORK (Reuters) - A federal judge ruled on Tuesday that Walmart ( WMT ) can end its credit card partnership with Capital One early because the bank failed to provide the required level of customer service. U.S. District Judge Katherine Polk Failla in Manhattan said the terms of a 2018 agreement making Capital One the exclusive issuer of Walmart...
bluebird bio to Restate Financial Statements; Shares Fall
bluebird bio to Restate Financial Statements; Shares Fall
Mar 26, 2024
03:32 PM EDT, 03/26/2024 (MT Newswires) -- bluebird bio (BLUE) said Tuesday it will restate its financial statements for 2022, and for the first three quarters of both 2022 and 2023 in its annual report on Form 10-K for the year ended December 31, 2023. The restatements relate to the identification of embedded leases and the treatment of non-lease components...
Copyright 2023-2026 - www.financetom.com All Rights Reserved