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Fitch Ratings lowers Boeing 2024 aircraft delivery, cash flow forecasts
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Fitch Ratings lowers Boeing 2024 aircraft delivery, cash flow forecasts
May 31, 2024 11:59 AM

May 31 (Reuters) - Fitch Ratings lowered its 2024

forecasts for Boeing's ( BA ) aircraft delivery and free cash

flow on Friday as the planemaker grapples with investigations

and slumping production of its strongest-selling jet.

"The delivery forecasts were affected by the Civil Aviation

Administration of China's (CAAC) decision to restrict certain

aircraft model deliveries to Chinese customers while it requests

additional documentation regarding voice recorder and battery

information," Fitch said.

The forecast revision also reflects the Federal Aviation

Administration's decision to maintain oversight within Boeing's ( BA )

factories while individually certifying newly produced aircraft,

the agency said.

The rating agency forecasts between 350-370 737 MAX

deliveries and about 65-70 787 deliveries in 2024, below

previous expectations of about 400 and 75, respectively.

Fitch also expects modestly negative free cash flow during

2024, compared to previous expectations of breakeven to

positive.

Fitch does not currently expect these adjustments to result

in rating changes.

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