Boeing (BA) didn't have a single order last month as the 737 Max crisis continues, marking the first January since 1962 that the aerospace giant notched a zero. Boeing stock fell slightly.
XBoeing is reportedly making massive concessions to 737 Max customers in an effort to get new orders for its troubled jet, aviation analyst Alex Macheras reported last month. But that wasn't enough to secure any orders for January. Still, no customers canceled orders, so the backlog was steady at 5,393 jets.
Boeing did deliver eight commercial planes last month: six 787 Dreamliners, two 777s. The rest of the 13 deliveries last month were military versions of its commercial jets, including two Air Force KC-46 tankers that are based on the 767 airframe.
Meanwhile, European rival Airbus said last week that it recorded 274 commercial aircraft orders in January and delivered 31 aircraft.
The Boeing 737 Max has been grounded for over 11 months following two deadly crashes and has weighed on future orders. January's dismal report follows a tough year for Boeing. Boeing had negative orders for commercial jets in 2019, losing a net 87 orders vs. a gain of 893 net orders in 2018.
Coronavirus, 737 Max Hit Boeing Stock
Boeing stock fell 0.1% to 344.42 on the stock market today. Shares remains above their 50-line and below their 200-day average, according to MarketSmith chart analysis. Airbus' U.S. listed shares rose 0.6% to 37.57.
In addition to the ongoing 737 Max crisis, the coronavirus in China could impact some future deliveries. Airbus halted production at its finishing plant in China earlier this month following a similar move by Boeing as the virus' death toll rises but received approval from Chinese authorities to restart production.
The production stoppage came as Airbus looked to boost production in Tianjin of its A320-family aircraft to six from four a month.
The coronavirus put a damper on the Singapore Airshow this week as Airbus and Boeing cut their delegations to Asia's largest airshow.
Follow Gillian Rich on Twitter @IBD_GRich for aviation news and more.
YOU MAY ALSO LIKE:
Is Boeing Stock A Buy Right Now? This Is What You Need To Know
Join IBD Live For Stock Ideas Each Morning Before The Open
Best Growth Stocks To Buy And Watch: See Updates To IBD Stock Lists
