- A record-high U.S. defense budget could turn out to be Boeing’s saving grace as problems mount.
- For that to continue, the company is relying on a second term for President Trump.
- Boeing is also benefiting from Trump’s negotiation with China.
Almost one year after Boeing (NYSE: BA) grounded its ill-fated 863 MAX series of narrow-body plans, the consequences are continuing to be felt . On Tuesday, Boeing disclosed that jetliner deliveries fell to a – year low in (************************************************. This was a drop of about (% from) .
New orders for commercial jets also fell to a – year low. Meanwhile, Airbus registered 823 deliveries, managing to beat its own record and even that of its American rival.
Boeing Turbulence Continues
As a direct consequence of the 2018 MAX crisis, the Dow Jones Industrial Average companylet CEO Dennis Muilenburg go. Boeing’s credit rating was downgraded to A- by S&P Global Ratings late last year. Moody’s Investors Service is currently reviewing the aerospace and defense giant’s credit rating. This is coming at a time when Boeing is said to be considering raising debt to help it ride out the storm.
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