Boeing CEO Says No 200-Plane China Order, Flags 737 Wing Bottleneck

IndustryProduct / TechManagement
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Boeing CEO Kelly Ortberg tempered expectations for a large China aircraft order, clarifying that the company did not receive a roughly 200-plane order earlier this year and that Chinese officials instead indicated plans to move forward with purchases that he expects to emerge incrementally and be announced by individual airlines. Speaking at Morgan Stanley's 14th Annual Laguna Conference, Ortberg said Boeing has reached a 737 production rate of 47 aircraft per month but has yet to stabilize at that level, with wing production in Renton remaining the primary constraint even as the broader supply chain, including engines, is in good shape. Boeing expects 737 MAX 10 certification very soon, with flight testing complete and only documentation and regulatory review remaining; the MAX 10 represents roughly 30% of Boeing's 737 backlog. The 777X faces another hurdle, as Boeing awaits completion of GE Aerospace's engine mid-seal certification plan before it can begin ETOPS testing, with some testing possibly spilling into next year, though the company continues to target 2027 deliveries. Engine deliveries are also slowing Boeing's effort to raise 787 production from eight to 10 aircraft per month, with the required engine delivery performance now expected closer to year-end, and a potential SPEEA strike could effectively halt the 777X certification program and disrupt 737 production before the current contract expires Oct. 6. CFO Jay Malave reaffirmed Boeing's 2026 free cash flow forecast of $1 billion to $3 billion, with about $2 billion as the framework, but said slower-than-expected 737 and 787 production ramps through year-end make results above the midpoint less likely than previously expected.

Impact on stocks 2

Aerospace & Aviation▼ · 2 stocks
The Boeing Company
BA
▼ NegativeDemandSupplyrelevance

CEO says Boeing did not receive the roughly 200-plane China order, with purchases expected only incrementally via individual airlines.

GE Aerospace
GE
▼ NegativeSupplyrelevance

Boeing awaits GE Aerospace's engine mid-seal certification plan before 777X ETOPS testing, and slowing GE engine deliveries hamper 787 production ramp.

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