Boeing must turn its fortunes around this year to avoid falling further behind Airbus, which plans a production increase as it fixes its supply chain.

Boeing delivered less than half the number of commercial aircraft to customers than its European rival in 2024, The American aerospace giant reported on Tuesday that it supplied 348 jetliners during the year.

Boeing commercial jet deliveries dropped last year by more than a third compared to 2023, as the aerospace giant wrestled with multiple major challenges. In data released Tuesday, Boeing (NYSE: BA) reported it delivered 348 airplanes to customers in 2024, down from 528 the year prior.

Deliveries of new Boeing jets bounced back in December after a crippling labor strike that slowed production last fall, but the company's annual deliveries dropped in 2024 to the lowest level since the COVID-19 pandemic.

Boeing Co. delivered the fewest jets last year since the pandemic as the planemaker worked to restore confidence in its manufacturing after a turbulent year that included a two-month long strike and production curbs following a near-catastrophe.

Boeing has released its delivery figures for the fourth quarter and full year of 2024. The American aerospace giant delivered 57 commercial aircraft in the fourth quarter, bringing its total commercial deliveries for 2024 to 348 units.