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Boeing Cancellations Continue to Outpace New Orders

Boeing Cancellations Continue to Outpace New Orders

Boeing (NYSE: BA) in July recorded a sixth straight month with more cancellations of commercial aircraft orders than new orders being placed, a continuing pattern that reflects the impact the COVID-19 pandemic has had on the air travel industry. The aerospace giant said Tuesday that customers canceled a total of 43 orders for its 737 Max in July, with an additional nine aircraft removed from its backlog due to customers facing financial challenges. Boeing already was facing challenges with the 737 Max, which has been grounded since March 2019 after a pair of fatal accidents, and the pandemic has made the company's issues even more difficult to deal with.