Boeing on a Bumpy Course: Declining Deliveries Cause Stock Plunge

Boeing emerged this week as the biggest loser in the Dow Jones Industrial Average after the fourth quarter 2024 delivery figures revealed a widening gap with European competitor Airbus. In the last quarter of the year, Boeing delivered 57 commercial aircraft, bringing the annual total down to 348. A year ago, the figures were 157 for the quarter and 528 for the entire year. In contrast, Airbus excelled with 269 deliveries in the fourth quarter and a total of 766 in 2024, the highest result since 2019. Boeing also had to contend with production difficulties in the fourth quarter, as an almost two-month strike by its unionized machinists brought operations to a halt. An agreement with a new contract finally ended the strike in November. Another setback hit Boeing in December when a Jeju Air 737-800 collided with a concrete barrier upon landing in South Korea and caught fire. This tragic accident claimed the lives of 179 people. The stock price of the American aircraft manufacturer fell by 3% during the day’s trading and has lost nearly a quarter of its value in the past year. The announcement of the fourth-quarter results is scheduled for January 28.