Boeing reclaimed its position as the world's largest aircraft manufacturer by delivering 143 planes in Q1, surpassing European rival Airbus by 29 jets. The US aerospace giant reported $22.2bn in quarterly revenues, a 14% increase year-on-year, as its turnaround campaign gains momentum. The company narrowed its quarterly loss to $7mn from $31mn last year, beating analyst expectations.

Boeing's commercial delivery lead represents its widest margin over Airbus since 2018, with the European company hampered by supply chain bottlenecks and engine shortages. CEO Kelly Ortberg, who took the helm in August 2024, has stabilized production of the troubled 737 Max and improved industrial relations. The company's defence division saw a 21% revenue surge, supported by rising global defence spending.

Boeing's recovery extends to government contracts, with a seven-year Pentagon deal for Patriot missile sensors and progress on NASA's Artemis II programme. While analysts note high jet fuel prices could pressure commercial demand, the same trend may accelerate retirements of older jets, potentially benefiting manufacturers. FAA officials have not identified issues preventing certification of new 737 variants, clearing a key regulatory hurdle.