Boeing confirms China stopped taking deliveries amid trade war
By Frank Prenesti
Date: Wednesday 23 Apr 2025
(Sharecast News) - US aircraft maker Boeing posted better-than-expected results in the first three months of the year on the back of higher deliveries, and said it could hand some planes rejected by Chinese carriers due to tariffs to other customers.
The company narrowed losses to $31m in the three months to the end of March, compared with a $355m loss in 2024. Revenues increased 18% to $19.5bn, just above expectations of $19.45bn as aircraft deliveries rose to 130 from 83 the year before.
Free cashflow improved to negative $2.3bn, compared with negative $3.9bn. Production slumped last year on the back of a strike across its workforce and safety issues related to its 737 Max jet.
However, it is now dealing the fallout from tariffs imposed by US President Donald Trump. Chief executive Kelly Ortberg confirmed China had stopped taking deliveries of its planes amid the trade war.
"They have in fact stopped taking delivery of aircraft due to the tariff environment," Ortberg told CNBC, adding that a few 737 Max planes that were in China set to be delivered to carriers there had been flown back to the US.
Some jets that were intended for Chinese customers, as well as aircraft the company was planning to build for China later this year, could go to other customers, Ortberg said.
"There's plenty of customers out there looking for the Max aircraft. We're not going to wait too long. I'm not going to let this derail the recovery of our company."
Trump raised tariffs on Chinese imports to 145% earlier this month, to which Beijing hit back with 125% tariffs on US-made goods, including aircraft. That made the 737 MAX, worth $55m each, far less affordable for Chinese airlines.
Reporting by Frank Prenesti for Sharecast.com
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