Boeing CEO Kelly Ortberg has confirmed that Chinese customers have stopped taking delivery of aircraft due to the US-China trade war. The halt in deliveries is expected to last until the tariff environment improves. Ortberg stated that if the delay continues, Boeing will market the jets to other carriers.
The company had planned to deliver around 50 aircraft to China by 2025. However, with the current trade tensions, it’s unclear when Boeing will resume delivering planes to China.
Boeing reported a smaller-than-expected loss of $123 million in the first quarter and saw revenues rise 18% to $19.5 billion. The company reaffirmed its targets for commercial plane production, including increasing production of its 737 MAX and 787 Dreamliner.
Despite the trade tensions, Boeing’s shares surged after the announcement. Ortberg stated that the company is considering divestments of assets “smaller” than the recent $10.6 billion deal to bolster its financial position.
The US-China trade conflict has been a concern for Boeing, but the company remains committed to implementing quality control enhancements under federal regulator scrutiny.
Source: https://www.france24.com/en/live-news/20250423-boeing-says-china-not-accepting-planes-over-us-tariffs