In a setback for Boeing, the company has announced a reduction in its annual delivery target for its 737 jets due to supplier errors. Originally aiming to deliver between 400 and 450 737 jets in 2023, the company has now revised that goal to 375 to 400 jets. The supplier in question, Spirit, encountered two separate quality issues with the fuselages it produces for Boeing’s popular narrowbody jets.
Despite this setback, Boeing remains committed to its financial targets. The company is determined to generate between $3 billion and $5 billion in free cash flow, and it intends to maintain its 737 production ramp-up plan. This demonstrates Boeing’s confidence in its ability to overcome these challenges and continue to meet the demand for its aircraft.
In addition to the 737 jets, Boeing has set a delivery target of at least 70 widebody 787 Dreamliners for 2023. The company is also making a significant transition in its production rate, increasing it from four to five jets per month. This indicates Boeing’s commitment to meeting the demand for its widebody aircraft as well.
While the reduction in the annual 737 delivery target is undoubtedly a setback for Boeing, the company’s determination to meet its financial goals and maintain its production plans demonstrates its resilience in the face of challenges. As one of the leading aircraft manufacturers in the world, Boeing’s ability to adapt and overcome obstacles will be key to its long-term success in the industry.
Read more at Yahoo Finance
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