THE 737 MAX fleet remains parked, the return to service date is uncertain, deliveries this year are half those of 2018, Boeing is being assailed by law-suits, attacked by Congressmen, key customers are losing patience. But maybe Boeing has touched the nadir and has positioned itself for a recovery over the next two years. The net result for the first nine monthsof 2019wasa profit of $374m in contrast to $7.obn in the same period of 2018. Total revenues fell to $58.6bn from $72.8bn, approxi-mately $5.6bn of the $14.2 decline being due to a charge in respect of ex-pected 737 MAX liabilities. Boeing's deliveries totalled just 302 aircraft in the first nine months of 2019, down 47% on the same period in 2018; it should be noted that aircraft sales are only accounted for as revenue when the aircraft is completed and accepted by the customer.
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