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Boeing Reports Order Rebound

Thanks to a strong 737 performance, Boeing hit its 2010 delivery target and ended the year with 530 net orders.

The company took in 625 gross orders but had 95 cancellations, mostly in its widebody programs and mostly early in the year.

The 747-8 gained one order but lost two and has a backlog of 107 orders. The 787 gained 37 orders but ended the year in the red with 41 cancellations. It totals 847 orders.

Boeing attributes lost orders to weakness in the market rather than dissatisfaction with its product line even though both of its flagship development programs—the 747-8 and 787—are running late.

An announcement is expected within weeks of when Boeing expects launch customer All Nippon Airways to receive the first 787. It was supposed to get it in the first quarter this year, but that deadline will be missed.

The 767, which will see the 1,000th aircraft enter production next week, received three orders in 2010 and holds a backlog of 50 airplanes.

The 777 gained a net 46 orders after suffering 30 cancellations. Its backlog stands at 253.

The 737, which has a backlog of 2,186 units, ended with 486 net orders after suffering 22 cancellations. To meet demand, Boeing has said it will produce 38 737s a month in 2013, up from the current average of 31.5/month. Some analysts expect it to make an announcement shortly that the rate will be lifted to 50.

In all, Boeing’s backlog is 3,444 aircraft, largely the result of peak order years from 2005 to 2007 that each took in more than 1,000 bookings.

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