Boeing says its 777X orders have dropped a third after delivery delays

According to a new stock file, Boeing reduced its 777X jet portfolio by more than a third after the aerospace giant announced further delays in the debut of its new aircraft.

Last week, the Chicago-based manufacturer said it doesn’t expect the 777X to go into service until late 2023, more than two years later than expected. Boeing said its 777X order figure at the end of 2020 was 191 compared to 309 a year earlier, according to Monday’s filing.

Boeing routinely removes the aircraft from its pending work due to an accounting rule that dictates how orders with a risk of cancellation are recorded. Aircraft purchase agreements generally allow customers to cancel orders more easily if aircraft are delayed.

Boeing charged a $ 6.5 billion charge in the fourth quarter for delays in the 777X.

The company has withdrawn hundreds of 737 Max aircraft from its order book under similar accounting rules and direct cancellations. These narrow-body aircraft, Boeing’s best-selling airliner, are flying again after almost land two years after two fatal accidents.

Last week, Boeing said additional regulatory control of the larger 777X aircraft after the Max crashes, as well as weaker flow for new customer aircraft amid the Covid pandemic, contributed to delays in delivery of the broad-bodied airlines.