Airbus A320neo vs. Boeing 737 MAX 8/9. For example, Boeing generated $13.6 billion in FCF in 2018 (the year before the 737 MAX was grounded), representing over 15% of its current market cap. In 2018, Airbus booked a total of 747 net new orders and 831 gross orders, thereby losing the 2018 orders race. In June, Airbus received no new orders but reported one cancellation. For the full year 2019, Boeing delivered 380 aircraft, while Airbus set a new all-time annual record, handing over 863 jets. Returns as of 01/12/2021. Boeing vs. Airbus: The Aviation Industry’s Swinging Power Balance ... 12/29/2020. Finally, the pandemic may well have a lasting effect on the public's willingness to fly. On April 27, Airbus announced that it had begun the process of furloughing more than 6,000 employees in Europe, including 3,200 production workers at its wing manufacturing site in Broughton, Wales, and another 3,000 workers in France. American Airlines put Boeing’s 737 MAX back in the air with passengers Tuesday on … That's something that would hurt the industry again. In addition, Airbus is furloughing 3,163 workers in Spain. In June, Boeing delivered 10 aircraft, including two 737NGs, one 747-8F, three 767s, one 777, and three 787s. On May 27, Boeing announced it had resumed production of the 737 MAX in Renton, Washington. Boeing has endured a seemingly never-ending series of issues that raise questions about how the company is run. At the hearing, the FAA was heavily criticized and accused of stonewalling by senators pursuing changes to the agency’s safety role. Sign up for the latest blog posts and products sent straight to your inbox. Follow me on Twitter to receive quick and thorough analysis of your favorite stocks. You may opt out of our email promotions at any time by selecting opt out, and your email address will be permanently removed from our list. Note: Boeing 777-300ER orders include one 777-200LR. Engineer, investment manager and property developer. For over 45 years, Forecast International intelligence reports have been the aerospace and defense industry standard for accurate research, analysis, and projections. Boeing also announced that the 787 production rate will be reduced from 14 per month to 10 per month this year, and gradually reduced to seven per month by 2022. In addition, Boeing and Airbus will have to make financial concessions to customers, and services revenue can come under threat as older planes are retired. Competition Boeing Vs Airbus. Boeing's 737 Max has been grounded since mid-March of last year. Boeing, however, continues to lead Airbus in deliveries of wide-body, larger planes such as Boeing's 787 Dreamliner and Airbus' A350, which enjoy bigger profit margins. However, there are numbers, and there is believing in the numbers. Airbus has only delivered 9,086 A320 planes. Market data powered by FactSet and Web Financial Group. Sorry, your blog cannot share posts by email. In addition, the FAA will review and approve training programs for all part 121 operators. Defense & Security Monitor, an Aerospace & Defense blog by. Image The Boeing Co – The Boeing Co. Airbus’ total jet deliveries were worth about $60 billion (U.S.) compared to Boeing’s $42 billion, based on market pricing estimates from aircraft valuation firm Avitas. Middle East & Africa The cases for buying stock in Airbus (OTC:EADSY) and Boeing (NYSE:BA) are pretty similar. Prior to the suspension of deliveries in March 2019, Boeing had produced and shipped 387 737 MAX jets. The author has used the Platinum Forecast System to retrieve the latest delivery forecasts and, for 2020, Forecast International’s analysts expect Boeing and Airbus to deliver 255 and 490 commercial jets, respectively. 2020 is miserable for Boeing and Airbus, but not to equal amount As is confirmed by the results of aircraft deliveries and orders from the second quarter of 2020, production and sales of commercial aircraft by industry giants Boeing and Airbus shrank dramatically in comparison with 2019. This year to date, Boeing’s book-to-bill ratio, calculated as net new orders divided by deliveries, is negative due to cancellations exceeding gross orders. However, the net order inflow was -1 for Airbus and -59 units for Boeing, and at this stage, Boeing and Airbus are both active in a loser’s market. Due to the COVID-19 pandemic, Airbus has cut production on several programs and is looking to hold underlying jet output at 40 percent below pre-pandemic plans for two years. FI's market research reports offer concise analysis of individual programs and identify market opportunities. And it will be a few years beyond that for the industry to return to long-term growth trends." For example, Boeing generated $13.6 billion in FCF in 2018 (the year before the 737 MAX was grounded), representing over 15% of its current market cap. When it came to plane sales, the company recorded its worst record in over five decades as it revealed no new orders in January. Let's take a look at which of the two stocks is a better buy on a risk/reward basis. This would have put the company within reach of a total of 1,000 jets deliveries per year. The 777-300ER backlog includes two 777-200LRs. ... As 2020 came around, Boeing was reporting some alarming numbers. On June 30, Airbus announced it plans to cut 14,000 jobs (5,000 in France, 5,100 in Germany, 900 in Spain, 1,700 in the U.K. and 1,300 elsewhere) as it deals with the effects of the coronavirus crisis. Getting life-saving satellite imagery to where it’s needed most. Following the flights, the FAA announced that, while this was an important milestone, a number of key tasks remain. The number of Airbus aircraft to be built and delivered represents 8.8 years of shipments at the 2019 production level. As many countries face the second wave of … Airbus and Boeing both confronted a softer market for wide-body aircraft even before the coronavirus hit markets. It doesn't stop there. Forecast International’s Platinum Forecast System is a breakthrough in forecasting technology which, among many other features, provides 15-year production forecasts. But it's not the only major challenge facing the embattled aircraft maker. In 2018, Boeing delivered 806 jets (763 in 2017), with Airbus handing over 800 (718 in 2017). Days sales outstanding (a measure of how long it takes to collect money owed) was 30.2 in 2015, 37.6 in 2017, 45.1 in 2018, and 62.5 last year. However, investors also need to consider the downside risks, and there appear to be more of them with Boeing than there are with Airbus right now. Indeed, Boeing CEO David Calhoun said as much on the last earnings call: "[W]e currently estimate it will take around three years for travel to return to 2019 levels. The long-awaited trade agreement between the U.S. and China may pave the way for Boeing Co. to resume sales to the world’s second-largest … The Airbus NSR is expected to be unveiled in the mid-2020’s to be released at the beginning of the 2030’s. Deliveries Improve as Boeing and the FAA Complete Three Days of 737 MAX Certification Test Flights. The company also reported 60 737 MAX cancellations, for a total of -59 net new orders. Turning to the orders race, in June, Boeing booked an order from FedEx for one 767-300F. Based in Denmark, Joakim Kasper Oestergaard is Forecast International’s AeroWeb and PowerWeb Webmaster and European Editor. Europe With just 70 deliveries this year to date, Boeing is 169 shipments behind last year’s total for the first half of the year. Boeing and Airbus have reveled in a decade of airplane sales that outshined any other in history—but the period is ending on a sour note.. Turning to the second point, the recovery in commercial aviation is widely seen as being led by domestic flights rather than international, and that means narrow-body demand is likely to recover quicker than wide-body. In any case, it will be a few years before Boeing is able to hit the monthly production rate of 57 aircraft that was originally planned. For 2020 to date, Airbus has accumulated 365 gross orders (67 cancellations => net of 298). Prior to this, Boeing had retained a deliveries lead over Airbus since 2012. In 2008, he came up with the idea for what would eventually evolve into AeroWeb. Source: U.S. Federal Aviation Administration (FAA). Click here to learn more. The exact timing of a recovery is impossible to predict because it depends on a host of factors relating to the pandemic, not least of which are government restrictions on travel. Meanwhile, Airbus CEO Guillaume Faury thinks it will happen "somewhere between 2023 and 2025.". As of the end of November, Airbus had captured 380 net orders in 2018, leaving it well behind Boeing, which had secured 690 net firm orders by that point. Latin America & Caribbean Both Boeing and Airbus plan to cut more than 30,000 jobs in all. The Boeing-Airbus rivalry started when Airbus offered four A300s to Eastern Airlines for a free six-month trial; the airlines liked the aircraft and ordered 23 more aircraft. In January 2020, Boeing and Airbus delivered 13 and 31 commercial jets, respectively, compared to 46 and 39 deliveries in the same month last year. The Airbus NSR (“New Short Range”) will be a short haul aircraft that can both travel a longer distance and carry more people than any A320 variant that has come before it. Boeing’s deliveries continue to suffer in the aftermath of two 737 MAX crashes and the subsequent deliveries halt and grounding of the fleet. As of July 2020, over 300 Boeing 737 Max and roughly 29 Airbus A320 family aircraft orders were cancelled. Management had high hopes for the new 777X aircraft to spur a new round of wide-body replacement demand, while also benefiting from ongoing sales of the 787. Something completely different; first half a year Boeing results will be interesting, they will be announced on 29-Jul-2020. Image source: Getty Images. Moreover, the slowdown in the wide-body market couldn't possibly have come at a worse time for Boeing. The European aerospace group announced Monday that it secured … All of these considerations need to be made before buying either of these stocks, but if you are positive on the industry, which stock is the better buy? It shows Airbus began floating in US market after order of 25 A320 aircraft from Jet Blue. Cumulative Growth of a $10,000 Investment in Stock Advisor, Better Buy: Boeing vs. Airbus @themotleyfool #stocks $BA $EADSY, Dow Jones Slumps 100 Points; Boeing Stock Lower After Fatal Crash; Cisco Fights to Close Acacia Merger, Boeing 737 Crashes Shortly After Takeoff in Indonesia, Boeing Agrees to $244 Million Penalty for 737 MAX Flaws, Airbus Sees Deliveries Plunge 34% as COVID-19 Takes Toll on Airlines, Boeing to Pay $2.5 Billion to Settle 737 MAX Criminal Probe, Copyright, Trademark and Patent Information. Between June 29 and July 1, a number of 737 MAX certification flight tests were carried out by Boeing and the FAA to evaluate Boeing’s proposed changes to the automated flight control system. This particularly affects Boeing and its sales of 737 MAX aircraft. The biggest shock … Airbus released its final sales and production tally Monday, showing it delivered a total of 863 jets and won 768 net new orders in 2019. In comparison, Boeing only delivered 20 aircraft in October and a dozen of these were not 737s. The last time this happened at the firm was back in 1962. For the full year 2018, Boeing booked 893 net new orders and 1,008 gross orders. Our experienced analysts compile, evaluate, and present accurate data for decision makers. Meanwhile, the KC-46 tanker (a military aircraft) has had a raft of issues over the years. Space 08 January 2021 Airbus signs multi-satellite contract with Intelsat for OneSat flexible satellites en. The 737 MAX is expected to remain grounded until at least August. In October 2020 the EU won WTO permission to hit back with tariffs on $4 billion of American goods a year. On June 17, FAA chief Steve Dickson testified at a Senate hearing on the 737 MAX. Meanwhile, the Federal Aviation Administration (FAA) has repeatedly stated that it has no timetable for the aircraft’s return to service. While the commercial aviation industry has been dealt a severe blow by the COVID-19 pandemic, it will surely recover over time, and investors are getting an opportunity to buy into the stocks at a significant discount. The FAA will retain its authority to issue airworthiness certificates and export certificates for all new 737 MAX jets manufactured since the grounding and will perform in-person, individual reviews of these aircraft. Lou has followed the markets for more than two decades, developing extensive contacts … Each report includes a program overview, detailed statistics, recent developments and a competitive analysis, culminating in production forecasts spanning 10 or 15 years. The A330 and A350 programs are reduced to a rate of two and six aircraft per month, respectively. Blue collar workers physically making a better world. The A320 production rate has been reduced to 40 aircraft per month, down from an average of over 53 aircraft per month in 2019. EADS/Northrop Grumman KC-45A vs Boeing KC-767 Aside from a second wave of the pandemic and associated travel restrictions, there's also the financial state of the airlines to consider. Boeing vs airbus sales 2020. Aircraft are being built at a low rate as more than a dozen initiatives focused on enhancing workplace safety and product quality are being implemented. Find out more at www.forecastinternational.com. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. It's still a pretty safe bet that the industry will recover, though, and if either stock can get anywhere near the kind of earnings/free cash flow (FCF) generated in 2018/2019, then they will look like a very good value. By comparison, Airbus racked up orders for 654 A320 aircraft, its popular single-aisle competitor to the Max. Boeing and Airbus delivered 10 and 36 commercial jets in June 2020 compared to 37 and 76 deliveries, respectively, in the same month last year. Financial performance: Airbus vs Boeing. Airbus, which is expected to announce 2020 orders and deliveries in the coming days, declined to comment ahead of their formal publication. In June, Airbus delivered one A220, 31 A320s (all NEO), and four A350s. That's obviously a concern given that the 737 MAX is the aircraft intended to compete with the Airbus A320 NEO in the narrow-body market. Boeing’s deliveries have suffered for many months in the aftermath of two 737 MAX crashes and the subsequent suspension of deliveries and grounding of the fleet. The individual country reports are structured to condense a vast range of information into concise segments. Last month saw the WTO then rule in favor of Airbus, meaning that a new set of tariffs worth US$4bn per year can be imposed by the European Union. Airbus has been struggling to grow its revenues in the last five years, having registered a CAGR of 0.97% since 2014 compared to its rival Boeing, whose revenues grew almost three times faster, at 2.74%, over the same period. Forecast International’s International Military Markets service provides a country-by-country examination of the military capabilities, equipment requirements, and inventories of over 120 nations. Recently, Boeing carried out a second round of layoffs involving an additional 1,030 employees companywide. Your privacy is very important to us. Next, a Continued Airworthiness Notification to the International Community (CANIC) and an Airworthiness Directive (AD) will be issued, followed by the official ungrounding of the aircraft. Production of the 737 MAX was suspended from January of this year until the end of May. Post was not sent - check your email addresses! An aircraft control tower. Based on the numbers above and the assumption that commercial aviation will recover in a few years, both stocks look like a good value. Many industry insiders are estimating that commercial aviation won't return to 2019 levels of activity until 2023. However, Airbus has delayed a planned A220 production ramp-up at its Mirabel facility near Montreal, where the company has been producing four A220s per month. The 737 MAX debacle is a huge issue in itself, but there's also the problem of management's credibility, particularly regarding a return-to-service (RTS) for the 737 MAX. No rate cut has been announced for the A220 or the A380. Simply put, investors can be forgiven for throwing in the towel on Boeing, and the company really needs a blemish-free period in order to restore confidence. will be interesting to see, how many Max are pending to be delivered (including these, already stated as unlikely to be delivered in the books). Production rate assumptions were not changed on the 747 and 767 programs. In the meantime, Boeing announced in May that it plans to cut 12,300 jobs, including nearly 10,000 in Washington. Stock Advisor launched in February of 2002. Deliveries of 737 MAX aircraft have been on hold since March 2019. Boeing, like Airbus, announced plans this summer to cut more than 10 percent of its global work force amid a steep decline in travel, which has forced airlines to delay and scale back plans to buy planes. Similarly, Airbus generated 3.5 billion euros in adjusted FCF in 2019 and had expected 4 billion euros in 2020 before the pandemic struck. By the time December was done, Airbus had.. I'm a firm believer that there is something noble about the industrial sector. Firstly, the manufacturer was able to bring the dispute with Boeing at the WTO to an end, as well as filing its own counter-claim. Pricing for each region begins at $2,295, with discounted full-library subscriptions available. This compares to a total of 386 A320neo family aircraft delivered in 2018, up from 181 and 68 in 2017 and 2016, respectively. Prior to this, Airbus had retained an orders lead over its rival every year since 2012. Yet one is faring better than the other. Those plans have now been shelved. On a risk/reward basis, investors will probably feel more comfortable buying Airbus. Navigating the DoD Acquisition Budget During Uncertain Times, Stay up to date on the latest from Forecast International, http://www.boeing.com/commercial/#/orders-deliveries, https://www.airbus.com/aircraft/market/orders-deliveries.html, https://www.faa.gov/news/updates/?newsId=93206, https://www.boeing.com/commercial/737max/737-max-update.page, https://boeing.mediaroom.com/news-releases-statements?item=130685, https://boeing.mediaroom.com/news-releases-statements?item=130673, https://boeing.mediaroom.com/2020-04-29-Boeing-Reports-First-Quarter-Results, https://www.washingtonpost.com/local/trafficandcommuting/faa-accused-of-stonewalling-by-senators-pursuing-changes-to-agencys-safety-role-after-boeing-737-max-crashes/2020/06/17/b5c44316-b0c6-11ea-856d-5054296735e5_story.html, https://www.reuters.com/article/us-boeing-737max/u-s-faa-chief-to-testify-at-senate-hearing-on-boeing-737-max-idUSKBN2392YZ, https://www.reuters.com/article/us-boeing-737max/boeing-737-max-expected-to-remain-grounded-until-at-least-august-sources-idUSKCN22A35G, https://edition.cnn.com/2020/04/27/business/airbus-furloughs/index.html, https://www.seattletimes.com/business/boeing-aerospace/boeing-to-cut-nearly-10000-jobs-in-washington-more-than-12000-overall/, MTU Aero Engines Sees MRO Recovery In 2021, Airbus and Boeing Report November 2020 Commercial Aircraft Orders and Deliveries, United Aircraft Corporation the Centerpiece of Rostec’s Aviation Cluster, View all posts by Forecast International →, https://www.france24.com/en/20200630-airbus-to-cut-15-000-jobs-worldwide-a-third-of-them-in-france. These include a number of evaluation reviews and reports to be held and issued by the FAA and the Joint Operations Evaluation Board (JOEB), which includes international partners from Canada, Europe, and Brazil. Airlines have had to ground some 787 planes and manufacturing issues have been found. Airbus delivered a record 112 A350s in 2019, up from 93 and 78 in 2018 and 2017, respectively. In the meantime, test flights and software changes continue. Boeing vs. Airbus: The middle of the market battle Score another one for Airbus. Widely criticized former CEO Dennis Muilenburg told investors a RTS would occur in October 2019, but the company is still waiting for it deep into 2020. Boeing hopes to win regulatory approval in August for the jet’s return to service, although that could be pushed back until fall. This is 141 aircraft below the company’s all-time backlog record of 7,725 aircraft set in January 2020. Mr. Oestergaard has a Master’s Degree in Finance and International Business from the Aarhus School of Business – Aarhus University in Denmark. For the full year 2019, Airbus handed over 642 A320 family aircraft, of which 551 were A320neos. Better Buy: Boeing vs. Airbus ... Apr 18, 2020 at 12:24PM Author Bio. And in few days we shall see the order and delivery for Jun-2020 for Boeing. For the full year 2019, Airbus landed 1,131 gross orders (363 cancellations => net of 768), thereby retaking the orders crown from Boeing. Subscribe to receive up-to-date news on market developments, along with trend analysis and contract announcements. When Boeing presented its first-quarter 2020 results in April, it was announced that the 737 MAX production rate will gradually increase to 31 per month during 2021, with further gradual increases as market demand allows. Airbus’ book-to-bill ratio is 1.52, thanks mainly to very strong order bookings in January. 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