Boeing orders, deliveries tumble as Max jet is grounded

Boeing 737 Max 8 jets built for American Airlines left and Air Canada are parked at the airport adjacent to a Boeing Co. production facility in Renton Wash. Orders and deliveries of Boeing's 737 M

Two crashes, one in October past year and another last month, killed 346 people and led to the grounding of the aircraft worldwide.

The family a Minnesota man who died when an Ethiopian Airlines plane crashed last month has filed a wrongful death lawsuit against Boeing, the manufacturer of the 737 Max aircraft that is was involved in the crash and is now being investigated by USA prosecutors.

Still, Boeing is ahead of its European rival Airbus, which last week said it had won 62 gross orders during the first three months of 2019, but some 120 cancellations left it with a negative net order.

Smaller rival Southwest Airlines Co. was the first US airline to formally cut its financial outlook for the year after being forced to pull its new fleet of 34 Boeing 737 MAX planes out of service.

Before the two crashes, Boeing was about to up production of the MAX 8 to 57 planes per month and suppliers were likely gearing up.

Though the market is less sure of Spirit AeroSystems' future, the maker of shipsets for the MAX 8 released a statement Friday confirming it would continue deliveries at the 52 planes-per-month pace, but will store them at Spirit facilities.

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Chicago-based Boeing's first-quarter 737 deliveries tumbled about 33 percent, pushing total aircraft deliveries down 19 percent to 149 from a year earlier.

China will join Canada, the United Arab Emirates, Singapore and the US Federal Aviation Administration on an worldwide panel reviewing the safety of the Boeing 737 MAX.

More families of victims of the Lion Air crash in Indonesia are suing Boeing after its chief executive apologised and said a software update for the MAX 8 jet would prevent further disasters. "Currently, we don't have any 737 Max in our fleet, so it doesn't have any impact on our operations", the aircraft leasing company said.

Boeing's shares, which have lost about 13% since the crash, were down 1.66 percent at $368.32 in afternoon trading.

Orders and deliveries of Boeing's 737 Max plunged in the first quarter as the plane was grounded around the world following a second deadly crash.

The Chicago-based airplane maker had been ramping up Max deliveries, with the planes accounting for almost half of the deliveries in the last few months.

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