The Latest: Orders, deliveries of Boeing's 737 Max plunge

MarketsAssociated Press

The Latest on the grounding of Boeing's 737 Max jets after two fatal crashes (all times local):

1 p.m.

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Orders and deliveries of Boeing's 737 Max plunged in the first quarter as the plane was grounded around the world following a second deadly crash.

Boeing disclosed Tuesday that it received no new orders for the Max in March. It took 29 net orders for 737s in the first three months of the year, but it appeared that only 10 of those involved the Max, the latest version of Boeing's best-selling plane. The buyers were not identified.

In the first quarter of last year, Boeing took 122 orders for 737s, including 112 for the Max, led by large orders from Southwest Airlines and Ireland's Ryanair.

Boeing suspended Max deliveries in mid-March after regulators grounded the planes. First-quarter deliveries of all 737s including Max models fell to 89 from 132 in the same period last year.

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9:44 a.m.

American Airlines is cutting a key revenue estimate partly because of canceled flights due to the grounding of its Boeing 737 Max jets.

American said Tuesday that it canceled 1,200 flights during the quarter that ended March 31 because regulators grounded its 24 Max planes.

Over the weekend, the airline removed the plane from its schedule through June 5 — six weeks longer than before — underlining that airlines think the Max will be parked longer than previously expected after deadly crashes in Indonesia and Ethiopia.

American says revenue for each seat flown one mile will be flat to up 1 percent, down from its initial forecast of flat to up 2 percent.

It also blames the government shutdown and 940 cancellations due to work on other Boeing planes.