Boeing continues to struggle with sales of its best selling Boeing 737 aircraft. The planemaker could only sell four 737 Max jets in April as electrical problems have re-grounded a part of the fleet. The Max took to the skies only in November last year after it was grounded for 20 months prior to that due to a faulty fly by wire system that led to two fatal crashes and a loss of 346 lives. The company saw a total of 17 deliveries in the month, which included nine 787s, two 767s, two 777s and four 737s. The company had received orders for 25 machines last month but also saw cancellations of 17 Max orders. According to Boeing, its net orders for the first four months of 2021 stood at 84, up from 76 a month ago and its official backlog fell to 4,045 orders from 4,054 in March. The low deliveries have adversely affected the cash generation of the aircraft manufacturer. The company had reported a net loss of $561mn in Q1
Boeing’s 8.75% 2031s and 5.705% 2040s yielding 3.38% and 3.93% respectively were down 0.71 and 1.09 to trade at 146.5 and 123.1 on the secondary markets.
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