Aircraft Orders Drop to 10-Year Low : Aerospace: Boeing and McDonnell expected to cut production rates. Third quarter is worst since 1982.

Aircraft manufacturers Boeing Co. and McDonnell Douglas Corp. received just 13 firm orders for commercial jets in the July-September quarter, the weakest showing since the recession of a decade ago.

Separately, Boeing on Friday warned that it may make further cuts in jetliner production rates, based on global economic conditions and the resulting needs of an airline industry now in its third year of an economic slump.

Friday’s report from the Aerospace Industries Assn. on orders in the latest quarter reflects the consolidation of the nation’s airlines and the economic slowdown at home and abroad.

Of the 13 orders received in the quarter, 12 were from foreign customers and one was from a domestic carrier. The total price tag was $1.5 billion.

The number of orders was the smallest since nine firm orders worth $300 million in the July-September quarter of 1982, an association spokeswoman said.

In the preceding quarter, Boeing and McDonnell received 83 firm orders for commercial aircraft.

“Orders have fallen 15% in the first three quarters of 1992 to 146 transport aircraft worth $13.8 billion, down from the 202 transport aircraft worth $16.2 billion ordered in the first nine months of 1991,” the report said. “Transport manufacturers have lowered their production rates in response to the lower order levels.”

Boeing’s statement about reduced production rates, made in its quarterly filing with the Securities and Exchange Commission, left the company’s options open, but was interpreted by Wall Street analysts as a fresh signal the world’s largest jet maker will lower rates further.

“It’s significant that Boeing even mentioned it,” said Bill Whitlow, a Seattle-based analyst at Pacific Crest Securities. “I think it’s the first official caution from the company that more cuts may be in the offing.”

Boeing last month slashed production of its medium-range 737 aircraft to 14 a month from 21 a month and has said it will pare the rate of production of its other narrow-body airliner, the 757, to seven a month from 8.5 next fall.

Whitlow recently lowered his rating on Boeing stock to a market performer from buy , because of his projection that it will be forced to cut production again in January 1994. He expects the 737 rate to decline to 12 a month, and the wide-body 767 jet from five a month to three.

That would make this year Boeing’s peak production year for the current cycle of the boom-and-bust airliner industry in which the Seattle-based company is the dominant manufacturer with more than 50% of the market.

In the SEC filing, Boeing said that “at this time, 747 and 767 production rates are expected to remain at five per month through 1993. The worldwide economic environment and airline requirements are closely linked, and further production adjustments may be necessary.”

Boeing officials declined further comment.