Boeing 2016 orders lowest since 2010, deliveries hit target

SEATTLE: Boeing Co  fell 80 planes short of its goal for new orders in 2016, but likely clinched the title of world’s biggest planemaker for another year.
Boeing said it delivered 748 jetliners last year and booked net orders for 668 aircraft worth about $94 billion at list prices. Boeing had predicted orders would roughly match deliveries, which it forecast at between 745 and 750 planes. Boeing’s delivery total likely means the Chicago-based aerospace and defence company beat European rival Airbus on output.

Airbus has forecast at least 670 deliveries in 2016, and is due to reports totals on Wednesday. Investors watch orders and deliveries closely to gauge future aircraft production levels and revenue, since airlines make most of the payment when aircraft are delivered. Boeing shares were up about 0.1 per cent at $158.86 in mid-day trading. Airlines have slowed their shopping for jets, especially large widebody models, causing Boeing’s “book to bill” ratio of new sales to deliveries to fall to its lowest level since 2004. Even so, Boeing’s orders fell less than expected, suggesting aggressive sales campaigns at year-end, analysts said. — Reuters