(Reuters) – Boeing on Wednesday adjusted its 737 delivery schedule for the year, due to failures at its supplier Spirit AeroSystems.
The company planned to deliver 400 to 450 Boeing 737s in 2023, but was forced to reduce that target to between 375 and 400 planes, following two separate quality issues at Spirit, which makes the fuselages for the narrow-body planes.
Although 737 deliveries fell short of forecasts, Boeing maintained its goal of generating $3 billion to $5 billion in free cash flow and intends to keep its ramp-up plan intact of 737 production.
Boeing has been working to increase deliveries to speed its recovery from overlapping security and pandemic crises, but it faced disruption for the second year in a row as demand for Airplanes are booming.
Analysts, however, remain optimistic about Boeing’s prospects, given the well-filled order books which should provide a buffer against any economic slowdown.
(Reporting Abhijith Ganapavaram in Bangalore and Valerie Insinna in Washington; Mariana Abreu)
Copyright © 2023 Thomson Reuters
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
