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Boeing Company (NYSE:BA) on Tuesday declared its major program deliveries for the first quarter of 2024, delivering 97 planes across its commercial and defense, space & security programs.
Boeing delivered a total of 83 commercial aircraft for the quarter, significantly lower than 130 in the year-ago period.
The commercial airplanes program includes 67 of 737 models, three 767 models, and 13 of its 787 models.
In the defense sector, Boeing delivered a total of 14 aircraft, comprising various models.
The company said it will provide detailed first-quarter financial results on April 24.
Of the latest developments, Boeing and Airbus SE (OTC:EADSY) are close to an agreement to split the operations of supplier Spirit Aerosystems Holdings, Inc. (NYSE:SPR).
Read More: Boeing, Airbus Near Deal To Divide Operations Of Key Supplier Spirit AeroSystems: Report
This deal could signal the end of Boeing's 20-year outsourcing strategy.
The discussions, which involve the two leading aircraft manufacturers, are aimed at dividing Spirit's assets essential to their respective jet programs. The talks are delicate due to the companies' rivalry and antitrust concerns, with the format of the discussions still being unspecified.
Boeing's recent crisis, triggered by a mid-air incident in January, has pressured the company to reconsider its supply chain strategy. The potential agreement would see Boeing and Airbus taking over plants that are crucial for their operations, although the specifics of the assets under negotiation remain undisclosed.
According to Benzinga Pro, BA stock has lost over 13% in the past year. Investors can gain exposure to the stock via IShares U.S. Aerospace & Defense ETF (BATS:ITA) and Invesco Aerospace & Defense ETF(NYSE:PPA).
Price Action: BA shares are trading lower by 0.23% to $181.15 on the last check Tuesday.
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