February 12, 2020
Boeings troubles have given the U.S. plane maker a bad start to 2020 as they booked no new orders for airplanes last month, the first time this has happened in January since 1962.
This has resulted in billions of dollars in losses both for Boeing and its suppliers, who have had to recently lay off workers amid uncertainty over the return of the 737 MAX aircraft.
Boeing’s debts doubled to $27.3 billion in 2019, and it looks to continue on a skyward trajectory as the company is forced to compensate airline customers and suppliers, while battling ever piling lawsuits.
European rival Airbus posted its biggest January order haul in 15 years with orders for 296 aircraft. Whereas Boeing saw its worst year in decades in 2019 struggling with the 737 MAX crisis, leading to its first halt in 737 production in 20 years and the departure of their Chief Executive Dennis Muilenburg in December.