Boeing (BA) Net Commercial Jet Orders Halved in 2015 Amid Low Oil Prices, Large Backlog

Boeing (NYSE: BA) reported that it recorded 768 net orders in 2015, which carried a value of $112.4 billion. The amount was about half of the 1,432 net orders reported for 2014.

The news comes as demand in the segment has waned and backlogs for Boeing and peer Airbus are nearing 10 years. In addition, lower oil prices have prompted some airlines to keep older, more fuel hungry jets in operation versus springing for newer, more efficient models.

Airbus, for its part, logged 1,022 net orders for commercial jets in 2015, the Financial Times said today. Overall revenue shouldn't show much of a difference with Boeing being stronger in "long-hand" jets, which carry a higher price tag.

Shares of Boeing are down over 4 percent Thursday.

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