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Boeing Co. BA, -3.14% said Tuesday that jetliner cancellations exceeded orders in May, though the company found a bright spot with fresh deals for cargo planes.
Plane-rental companies canceled deals for 14 more 737 MAX jets, and Boeing also shed orders for four wide-body aircraft, though the decline was less than in April and came in a month when rival Airbus SE won no new jetliner business.
Corp. and United Parcel Service Inc. added to their existing Boeing orders, as cargo jets provided a rare competitive advantage for the aerospace giant, still hobbled by weak demand for big passenger planes and the continuing grounding of the 737 MAX.
Boeing makes three different types of cargo jets and also converts passenger planes to carry cargo. The company carries a broader lineup than Airbus, which is expanding its own offerings to tap demand from established express carriers and new entrants such as Amazon Air.
