Boeing has been besieged with numerous problems over the past half-decade, and some experts say that summer 2024 will bring extra headaches for vacation-goers. The U.S. airplane manufacturer is experiencing aviation supply chain issues as it struggles to temper concerns over the safety of its airplanes. This will likely drive up the cost of traveling, so some people may have to put that summer jaunt on the back burner.
What's causing problems? After a series of high-profile incidents, including the door plug being blown off of an Alaska Airlines flight, Boeing saw "intense federal and public pressure to improve the quality of its planes," and as a result, the company's "production of 737 Max jets has slowed to a trickle," said Forbes.
This past March, Boeing delivered 24 planes to airline clients — a 53% decrease year-over-year, according to Forbes. During the first two weeks of April, the company delivered just three planes. In all, U.S. airlines are on track to receive 301 passenger airplanes in 2024 — 40% fewer planes than initially expected this year.
U.S. officials "ordered a limit on the aircraft's manufacturing" following the Alaska Airlines incident, said Bloomberg. While this was "intended to focus Boeing on safety, the move has put a major dent in the production of new planes, with thousands already on back order."
How will this affect summer travelers? Vacationers "should expect to pay more for plane tickets this summer, as airline capacity struggles to keep up with demand," said Business Insider. This is especially true because 2024 is slated to break records for the most air passengers ever, with the International Air Travel Association predicting 4.7 billion travelers.
Airfares "should stay elevated through 2024," Robert Mann, the founder of airline consulting firm R.W. Mann & Company, said to CNN. While most of these issues will involve domestic flights, there are international concerns, too. Michael O'Leary, the CEO of Irish carrier Ryanair, said the airline may see its ticket prices rise to 10% due to Boeing delivery delays, according to Barron's. |