Boeing Co (NYSE:BA) successfully hit its 2014 delivery targets with an industry record 723 jetliners delivered for the year. The Chicago based plane maker received a total of 1,550 gross orders as well as 1,432 net orders valued at $232.7 as of 2014 list prices. Compared to 2013, net orders for 2014 surged at 6 percent. The company however, did not make it in terms of new orders, according to a an unnamed source cited by Reuters in an earlier report.
Boeing Co (NYSE:BA)’ existing customers are currently cutting on growth on account of pressures on the economy, as well as overexpansion, but the aerospace company said that cancellations and deferrals are quite low compared to historical standards. Although the aviation industry is known globally for losing money, it has enjoyed five successive years of profitable operations when passenger traffic surged after the 2008-2009 recession. Airliners was quick to respond and ordered new jets for gradual delivery in a period of six years. The International Air Transport Association was quoted by Wall Street Journal as forecasting a 7 percent growth in passenger traffic for this year.
Boeing Co (NYSE:BA)’s delivery of the 723 jetliners for 2014 is a 12 percent increase over 648 deliveries in 2013. The company’s 737s took the lead in deliveries at 485, with the newest 787 model taking second lead at 114. 777s accounted for 99 deliveries, while 747s and 767s recorded 19 and 6 deliveries, respectively. Prior company forecast estimated deliveries to be at a range of 715 to 725 for 2014.
Boeing Co (NYSE:BA) also reported a lower cancellation figure of 118 for 2014, as against 176 in 2013. It already has booked an order of up to 5,789 jets, with orders stretching forward to early 2020’s. Analysts estimates that the company will be delivering as much as 760 jetliners for 2015, and there are also expectations of up to 900 deliveries a year by 2020.
This article has been written by Nonito Guntan.