Boeing had a rough day in the market after revealing Tuesday that its fourth-quarter deliveries fell short of expectations—an indelible mark left by a two-month workers’ strike, the first for the troubled plane maker in 16 years.
The results highlighted a stark contrast to the performance of its European rival, Airbus, and added to the mounting woes Boeing has faced in a year fraught with safety concerns, including a deadly crash in South Korea involving one of its jets.
Boeing delivered just 57 commercial aircraft in the last quarter of 2024, a steep decline from 157 during the same period in 2023. Total deliveries for 2024 also fell, with 348 aircraft delivered compared to 528 the year before.
In contrast, Airbus reported 269 deliveries for the fourth quarter and 766 for the full year, marking its highest annual total since the COVID-19 pandemic.
The delivery slump was partially attributed to a nearly two-month workers’ strike, which disrupted Boeing’s production as the company and its workers battled over contract terms. While the strike was resolved in November with a new agreement, the impact on production was evident in the company’s fourth-quarter numbers.
Boeing is still grappling with lingering safety concerns, including the January 2024 Alaska Airlines incident when a 737 MAX experienced a midair door panel detachment. This followed a series of setbacks in the previous year, including the deadly crash of a 737-800 in December, involving South Korea’s Jeju Air, which claimed 179 lives.
These ongoing challenges have weighed heavily on Boeing’s stock, which dropped 3 percent on Tuesday and has lost nearly 25 percent of its value over the past year. Despite efforts to stabilize operations and enhance safety measures, Boeing’s recovery appears sluggish. The company is scheduled to report its fourth-quarter results on January 28, and investors are expected to look for any signs of a turnaround.
