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On the radar: Boeing gets 25 new orders in September, but it doesn’t much advance net orders year-to-date

Boeing reported 25 new orders for September, an increase of 19 from the total of 6 in August. There were 16 new orders from North American buyers. Boeing booked an order of 15 767-2C models from the BDS USAF Tanker Program and 1 order for its beleaguered 737 MAX from its own Boeing Business Jet service. There were 8 foreign orders from Air New Zealand and 1 from an unidentified buyer which usually means a foreign military purchase. The presence of the MAKS Airshow (August 27-September 1) doesn’t seem to have much direct impact on the September orders.

For the year-to-date, Boeing has received gross new orders of 170 and cancellations of 114 for a net of 56. This is a scant increase from the net orders of 55 as of August. Boeing is on track for the lowest net number of orders in a year in decades. It is doubtful that even with a supportive number of orders at the upcoming Dubai Airshow (November 17-21) that 2019 will end on anything except a down note between the troubles associated with the 737 MAX air disasters and unfavorable global economic conditions.

Nonetheless, the increase in orders in September should help boost the transportation component in the advance report on durable goods orders when it is released at 8:30 ET on Thursday, October 24.

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