Boeing is facing significant challenges due to the US-China trade war, as approximately 50 planes originally intended for China must be diverted to other airlines, amounting to over $1 billion in lost revenue. CEO Kelly Ortberg emphasized the need to address these issues to avoid setbacks in Boeing's recovery. With China representing 10% of the business's commercial backlog, Boeing is exploring other markets for stable demand, as other airlines show interest in acquiring the delivery slots. Meanwhile, the company reported a positive increase in revenue despite ongoing trade concerns.
Boeing has about 50 planes that must be sold to other airlines. Chinese customers said they won't take deliveries because of tariffs.
We're going to work our tail off to make sure that China issue doesn't implicate our recovery.
We've really had a good start to the year, and I'm glad we put a conservative plan together that allows us to deal with the tariffs.
The CEO of Malaysia Aviation Group said it is talking with Boeing about taking over the delivery slots.
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