Boeing's Delivery Comeback
Boeing achieves highest first-half deliveries since 2018, signaling strong recovery and ramp-up
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Key Points
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WestJet canceled six 737 orders, and Aviation Capital Group stepped in to purchase the same six aircraft to lease back to WestJet.
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A fourth final assembly line opened in Everett, Washington on July 6 to support Boeing's ramp to a monthly 737 MAX build rate of 47 jets.
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In Q2, Boeing delivered 35 aircraft in its defense, space, and security segment, illustrating ongoing military production alongside commercial output.
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Boeing's debt-to-equity ratio stands at 7.89, indicating substantial leverage and market expectations amid its recovery.
Boeing delivered 314 commercial aircraft in the first half of 2026 — the most for any first half since 2018, according to Quartz. That marks a 12% jump over the same period last year, a sign the troubled planemaker is finally rebuilding momentum after years of crises.
June alone brought 64 deliveries, capping a second quarter of 171 commercial jets. Boeing also moved 35 defense and space aircraft in Q2, per Yahoo Finance. The numbers signal a genuine recovery — though Boeing still trails rival Airbus, which handed over 351 jets in the first half.
737 MAX Leads a Broad-Based Delivery Surge
The 737 MAX drove Boeing's first-half surge. Boeing delivered 243 of the narrowbody jets in the first six months, including 42 in June alone, according to Quartz. Cumulative 737 MAX orders now stand at 7,206. The jet remains Boeing's biggest revenue engine and the backbone of its recovery plan.
Boeing also delivered 13 787 Dreamliners in June. That mix included three 777 freighters and five 767s. Q2 commercial deliveries of 171 aircraft topped Q1's 143 and Q4 2025's 130, showing a steady upward climb, Yahoo Finance reported.
Riyadh Air Jets Finally Clear Seat-Certification Delay
Five of June's 787 Dreamliner deliveries went to Riyadh Air. These jets had been stuck in limbo due to seat-certification problems, meaning regulators had not yet approved the cabin seats for flight. Boeing clearing that hurdle freed up five aircraft that customers had been waiting on.
The resolution matters beyond just five planes. Seat-certification snags have been a recurring headache for Boeing's widebody program. Getting Riyadh Air's jets out the door shows Boeing is working through its backlog of delayed aircraft, not just producing new ones.
WestJet Deal Shows Clever Order Book Management
WestJet canceled six 737 MAX orders in June. But the aircraft did not go far. Aviation Capital Group stepped in to buy the same six jets, planning to lease them right back to WestJet. The swap kept the aircraft in WestJet's fleet while shifting ownership to a leasing firm.
Net orders for June came in strong regardless. Boeing posted 121 gross orders and just 8 cancellations, for a net gain of 113 jets. That kind of order activity shows airlines still want Boeing planes, even as the company works to rebuild its reputation for quality and safety.
New Assembly Line and Production Targets Signal Bigger Ambitions
Boeing opened a fourth final assembly line in Everett, Washington on July 6, according to KIRO 7. The new line is designed to push the 737 MAX monthly build rate to 47 jets. Right now, Boeing produces well below that. Getting to 47 per month would be a major manufacturing milestone.
Boeing's debt-to-equity ratio currently sits at 7.89. That is a high number — it means Boeing owes nearly eight dollars for every dollar of equity it holds. Investors are watching closely. Strong deliveries help generate cash to pay down that debt, making each quarter's output report a financial event as much as an operations one.
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