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Boeing is navigating turbulent skies as trade friction between the U.S. and China impacts aircraft deliveries. CEO Kelly Ortberg revealed that Chinese customers have paused accepting Boeing planes due to the ongoing tariff environment. This development poses a significant challenge for the aviation giant, even as the company reports signs of financial recovery.
In a recent interview, Ortberg stated that if the delivery halt persists, Boeing will actively seek alternative markets for the affected jets. The company had anticipated delivering approximately 50 aircraft to China this year.
The U.S.-China trade situation, spearheaded by former President Donald Trump, casts a shadow over Boeing, a major U.S. exporter. Despite this hurdle, Boeing remains optimistic, citing potential negotiated settlements. “I can’t predict the course of trade talks,” Ortberg admitted, emphasizing the importance of preventing similar situations with other countries.
Boeing has minimized the impact of tariffs on steel and aluminum, noting that these materials constitute a small percentage of aircraft costs and are primarily sourced domestically. Furthermore, Boeing leverages a U.S. duty drawback program to recover custom duties on exported goods.
Financially, Boeing reported a smaller-than-expected loss of $123 million for the first quarter, compared to $343 million in the same period last year. Revenues also saw an 18% increase, reaching $19.5 billion. The company reaffirmed its commitment to increasing commercial plane production, with the 737 MAX targeting 38 planes per month and the 787 Dreamliner aiming for seven per month.
Boeing also expects the first delivery of the 777-9 in 2026. The company confirmed a cash burn of $2.3 billion, “much better” than the expected $3.7 billion hit to free cash flow, according to analysts at TD Cowen.
In a strategic move to strengthen its financial footing, Boeing announced the sale of parts of its digital aviation solutions business to Thoma Bravo for $10.6 billion. This includes Jeppesen, a navigation company with an 81-year history.
Ortberg, who assumed leadership last summer, is also considering further asset divestments. He emphasized the company’s commitment to safety and quality improvements following past incidents. “Our company is moving in the right direction as we start to see improved operational performance across our businesses from our ongoing focus on safety and quality,” Ortberg stated.
Boeing’s stock rose six percent, leading the Dow index.