Boeing Closes 2024 with Dismal Results Amid Ongoing Challenges
Boeing ended 2024 with a notable surge in orders for December, but the year overall marked one of the company’s most difficult periods in recent memory, as production struggles and a significant strike hindered recovery efforts.
The aerospace giant reported 142 gross orders for December, driven largely by demand for its 737 Max aircraft. While it was the strongest sales month of the year, it fell short of the company’s December 2023 record of 371 orders. Full-year gross orders reached 569, representing a 60% drop from the previous year.
The challenges for Boeing in 2024 began early, following a widely publicized incident involving an Alaska Airlines 737 Max, where a door plug failure left a gaping hole in the aircraft mid-flight. The resulting scrutiny and concerns slowed orders in the months that followed.
Adding to Boeing’s woes was a strike by 33,000 members of the International Association of Machinists, which began in September and ended in early November. However, production at the affected facilities only resumed in December, significantly impacting deliveries. Boeing delivered just 30 planes in December, bringing the annual total to 348 – a 34% decline from 2023.
Delivery delays have severely impacted Boeing’s financial performance, as the company earns most of its revenue upon completing and transferring aircraft to customers. Fourth-quarter deliveries dropped 64% compared to the same period in 2023, raising concerns about the company’s upcoming financial results.
Boeing has already cautioned investors about continued losses throughout 2025, underscoring the challenges ahead as it works to restore production levels, rebuild customer trust, and stabilize its finances. The company is expected to release its full-year financial report at the end of January.