Last week, Boeing (NYSE: BA) and Airbus (OTC: EADSY) both reported their order and delivery results for the month of May. Boeing posted another month of solid order activity as it tries to recover from a steep plunge in its backlog during 2019 and 2020. But while Airbus continued to lag in new orders, the European aerospace giant maintained its biggest advantage over Boeing: It's still delivering jets at a respectable pace.
Last month, Boeing received 73 new firm aircraft orders. The biggest by far came from Southwest Airlines (NYSE: LUV) , which exercised 34 options for 737 MAX 7 jets to be delivered next year. Alaska Air also exercised options for 13 additional 737 MAX 9 deliveries in 2023 and 2024.
These orders were partly offset by bankrupt carriers Aeromexico and Norwegian Air Shuttle canceling 737 MAX orders. Nevertheless, Boeing's commercial aircraft backlog increased to 4,121 units at the end of May, up from 4,045 a month earlier. While the total number of unfilled orders barely budged during the month, Boeing reduced its reserve for orders that it deems likely to fall through, driving the backlog increase.
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Boeing Leads Again in Orders, but Airbus Delivers the Goods