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On the radar: Boeing reported 9 new orders for June

Boeing reported a total of 9 new orders for June with 7 from US buyers and 2 from foreign sources.  There were reports that Boeing had inked a letter of agreement with IAG for 200 aircraft — and importantly for the troubled 737 MAX model. However, it appears that agreement has not been officially placed on the books. It is not unusual for some deals reached at an air show to not be closed until the following month.

For 2019 to-date, Boeing reported gross new orders of 108 and changes/cancellations of 87 for a net of 21. Until Boeing can resolve doubts about the 737 MAX aircraft’s safety, bookings could remain thin.

The number of orders in June is relatively meager compared to most years when either the Paris Air Show or Berlin Air Show provide an opportunity for sales to shine. As a result, it is likely that the transportation component in the advance report for durable goods in June will be another drag on overall orders when the data is reported on Thursday, July 25 at 8:30 ET.

The next major airshow is the MAKS Airshow in Moskow on August 27-September 1. This show doesn’t usually yield large numbers of orders. However, prospects are better for the Dubai Airshow that arrives on November 17-21 and could help Boeing finish the year on a less gloomy note.

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