And we're trying to get ahead of it.And then again, we'll be informed of how quickly we're clearing the inventory off the ramp. I think that's definitely -- that is going to be the case.
In May, we completed a $25 billion bond issuance and the strong investor response on the bond validates the confidence we have in our future. Our commitment to our customers does not end at delivery.I'll cover these charges in more detail on the subsequent slides.
Similar to prior period in preparation for our second-quarter financial statements, we made certain assumptions on the 737 MAX including delivery and production rate ramp-up profiles. That has been our motive and to emphasize to everyone including our own people, that we're going to move the finished goods first.
We continue to execute the flight testing phase of our rigorous test program.But essentially, those are really the four biggest buckets to get you to 2021. We're looking critically at our organizational cost structure and how we operate. Boeing Q2 2020 Earnings Call Jul 29, 2020, 10:30 a.m.
We're reevaluating our portfolio and investments to ensure we're focused in our spend on where we see market opportunities and areas more critical to our future like safety, quality and innovation.
It just has to get through that criteria, even though there's contracts in place. So some of those have been accelerated. These rate decisions are based on our current assessment of the demand environment, taking into account a host of risks and opportunities. Given the amount of uncertainty that is still in front of us, managing liquidity continues to be vital to our industry's ability to bridge to recovery and navigate the challenges.Even though the customers continue to have binding contracts with our company, we have -- when an order is deemed to not meet the criteria that we adjust the backlog accordingly. As always, we have provided detailed financial information in our press release issued earlier today and as a reminder, you can follow today's broadcast and slide presentation through our website at boeing.com.
As reflected in the second-quarter revenue, we've updated our assessment of the liability for estimated potential concessions and other considerations to customers for disruptions related to the 737 MAX grounding and associated delivery delays. Thank you.But as I said in my opening remarks on deployment, if we see opportunities to pay down that debt sooner or restructure that in any way, we will absolutely be doing that, and we'll be laser focused on bringing that debt down and getting the balance sheet back in order.These airplanes will be flying for decades to come and will continue to support the 747 franchise, its operations and sustainment well into the future.
We are implementing these reductions as fairly, respectively and transparently as possible and providing as much support for our employees as we can through the duration of the global health emergency that we're facing. Let's turn to Slide 4.
While we still have a lot of work in front of us, we're encouraged with the completion of the FAA certification flight test earlier this month and the FAA's announcement to move forward with the notice of proposed rulemaking to safely return the 737 to service.
Let's move now to Slide 10, and we'll discuss our liquidity position.To respond to the challenging market dynamics, we have taken significant action and proactive steps to rightsize and ultimately better position our services business for these new market realities.
The third layer is to minimize contaminants from spreading in the cabin itself through to the design of cabin airflow, the use of HEPA filters and encouraging passengers, if not requiring passengers to wear face coverings.Yes. Q2 2020 The Boeing Company Earnings Conference Call Dial in numbers: 1-877-692-8955 within the U.S. and 234-720-6979 outside of the U.S.
AerCap Holdings N.V. (NYSE:AER) Q2 2020 Earnings Call Jul 29, 2020, 8:30 a.m. Our portfolio of products and technology is well positioned for that recovery. Let's now move to commercial airplanes on Slide 6. So you're going to see variation supplier by supplier.Thank you Maurita. The second layer is assisting airlines on cleaning and disinfecting practices.
But again, on a cash basis, on a unit basis, margins are actually hanging in there pretty well.You've got these low rates.
On the 747, we will continue building 747s at the current rate as we deliver on our commitments to key customers.
And our next question comes from the line of Hunter Keay with Wolfe Research.As we look toward entry into service, we have adjusted the timing of the first 777-9 delivery to 2022 versus our prior forecast of 2021.
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