Heard on the Street: Canceled 777X orders came as a big blow to Boeing
By Jon Sindreu Updated Nov. 25, 2019 6:53 am ET Demand for large planes is slackening at a very inconvenient time for Boeing. BA 1.34%
Overall, the U.S. manufacturer notched less than half the tally of its European rival Airbus, which received 232 orders and commitments thanks to robust demand for smaller jets. Ultimately, though, the big blow to Boeing was the canceled 777X orders. The jet is extremely dependent on Middle Eastern airlines amid tepid demand elsewhere. Emirates is still its main customer, having signed up for 126 of them. Comments by the airline’s president, Tim Clark, during the show suggest that the order was trimmed in part due to issues with the 777X’s General Electric engines, which are delaying its scheduled 2020 delivery date.
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