Boeing's March Jet Deliveries Slow Due to 737 MAX Wiring Issue

• Boeing's CFO previously stated the wiring issue would push about 10 737 MAX deliveries into Q2 but would not impact full-year 737 delivery targets
• March deliveries included 33 737 MAX jets, seven 787s, three 777 freighters, and military aircraft conversions, with 25 new 737 orders placed by unidentified customers
• Boeing ended March with an order backlog of 6,127 jets and has trailed European rival Airbus in annual deliveries every year since 2018

Boeing March Deliveries Summary

Key Figures:

Boeing delivered 46 jets in March 2025, a decline attributed to wiring repairs on approximately 25 of its 737 MAX aircraft. The U.S. planemaker recorded 31 net new orders (33 orders minus 2 cancellations) for the month.

Performance Metrics:

• Q1 2025 deliveries: 143 jets, ahead of Airbus's 114 aircraft
• March deliveries breakdown: 33 737 MAX jets, 7 787s, 3 777 freighters, 1 767 freighter, plus military conversions
• Year-end order backlog: 6,127 aircraft (4,368 737s, 1,059 787s, 606 777s, 94 767s)
• Q1 net orders: 149 after adjustments

737 MAX Wiring Issue:

CFO Jay Malave indicated the damaged wiring problem would push approximately 10 737 deliveries into Q2 but would not impact full-year 737 delivery targets.

March Orders:

• 25 737 orders (20 MAX, 5 Next Generation) to undisclosed customers
• 8 787 orders to unidentified buyers
• Cancellations: Air Europa and Enter Air each dropped one 737 MAX order

Competitive Landscape:

Boeing trailed European rival Airbus in March deliveries but led in Q1 overall, as Airbus faces engine supply constraints. Boeing has lagged Airbus in annual deliveries every year since 2018.

Market Implications:

Deliveries are critical for Boeing's cash flow, as manufacturers receive most payment upon aircraft handover. The wiring issue represents a temporary setback, though management maintains confidence in meeting annual targets. The strong order backlog and Q1 delivery lead over Airbus provide positive indicators despite ongoing production challenges.