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Boeing Tops Q1 on Delivery Gains as Jet‑Fuel Surge Hits Airline Outlooks

A jet‑fuel spike tied to Middle East turmoil is forcing airlines to cut guidance despite solid demand at manufacturers.

Overview

  • Boeing, which reported Wednesday, posted a smaller‑than‑expected Q1 loss of 20 cents a share on $22.2 billion in revenue as commercial deliveries rose to 143 jets.
  • Boeing said its total backlog reached about $695 billion and it still expects 737 MAX 7 and MAX 10 certification in 2026 with first deliveries planned in 2027.
  • Free cash flow improved to negative $1.45 billion and the company is holding 737 output near about 42 a month as it prepares a new Renton line to raise capacity.
  • United, which reported Tuesday, cut its full‑year profit target to $7 to $11 after a $340 million jump in fuel expense, and Alaska Air suspended 2026 guidance and now models a Q2 loss using a roughly $4.50‑per‑gallon jet‑fuel assumption.
  • GE Aerospace beat Q1 estimates, logged $23 billion in orders, and said results are tracking to the high end of its 2026 targets while warning that high oil prices and tighter fuel supply could slow flight activity.