News

Boeing reports record end to 2017 for aircraft deliveries

Boeing delivered a record 209 commercial aircraft in the final three months of 2017 as demand soared.

This brought the annual total to 763, the majority being for Boeing 737 short to mid-range aircraft.

The US manufacturer expects to deliver as many as 815 new aircraft to airlines in 2018.

It described its backlog of orders as being “robust” with more 5,800 aircraft valued at $421 billion.

The fourth quarter of 2017 saw revenue for commercial aircraft rise by 8% year-on-year to $15.5 billion reflecting a higher number of deliveries.

Airlines received 209 aircraft in the period, up from 185 in the final three months of 2016.

The first 787-10 Dreamliner was rolled out ahead of delivery to launch customer Singapore Airlines.

A total of 44 Boeing 737 MAX aircraft were delivered in the quarter, meaning that Boeing has captured more than 4,300 orders since launch of the new-generation jet, including a recent order from flydubai for 175 of the type.

Development on the 777X is on track as production began on the first 777X flight test aircraft in the quarter.

The commercial airplanes division booked 414 net orders in the quarter.

Overall profits for the quarter almost doubled to $3.1 billion with the full year earnings up by 67% to $8.1 billion on revenue of $93.4 billion.

The company predicts 2018 full year revenue of at least $96 billion.

Boeing was one of many major US companies to be boosted by a one-off gain in the fourth quarter from president Donald Trump’s tax cuts. Income tax for the quarter was reduced by more than $1 billion.

Boeing chairman, president and CEO Dennis Muilenburg said: “Across Boeing our teams delivered a record year of financial and operational performance as they focused on disciplined execution of production and development programmes, growing services, and delivering value to customers.

“That performance enables increased investments in our people and our business, and greater cash return to shareholders.”

“In 2017 we delivered the first 737 MAX airplanes, launched the 737 MAX 10 and completed the 787-10 first flight, all while delivering more commercial airplanes than ever before.”

Share article

View Comments

Jacobs Media is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.