Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Aircraft manufacturer Boeing reported a loss of 60 orders for its 737 Max project, citing the impact of the pandemic. 


The company said in a press release on Tuesday that it had only managed to deliver 20 planes in Q2 2020, down 450pc from 90 aircraft in the prior year as global travel restrictions cut demand for both commercial and cargo aircraft. 


Another cause of delay was the continued ban of 737 Max from flying after two fatal incidents last year. 


Ron Epstein, an analyst at Boeing’s investor Bank of America Merrill Lynch, said that so far, about 2,480 deliveries have been postponed to at least a year later, once the aircraft is reinstated. 


According to media reports, Norwegian Air Shuttle has also scrapped its remaining 97 orders from Boeing. Last month, 123 contracts from customers were intended to be revised due to financial trouble in the industry.

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