Published 2 years ago

Boeing posts $3.3B loss on costs tied to defense programs

Summary by Ground News

Boeing reported a nearly $3.3 billion loss in the third quarter of 2022. The defense, space and security sector reported $2.8 billion in quarterly losses. The KC-46 tanker program has been a persistent drain on Boeing's finances. The company is now facing aNearly $4.4 billion loss so far this year.

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Times of India

Boeing takes $2.8 bln hit in defense business, keeps cash flow goal

Cost overruns in Boeing's defense, space and security segment have hobbled a recovery for the company attempting to come out of successive crises by cashing in on an upsurge in air travel demand after two years of COVID-related curbs. Both Boeing and its European rival Airbus SE have ramped up production of narrowbody jets, with Boeing delivering 112 jets in the third quarter compared to 85 jets last year.

2 years ago·India

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Reuters

Boeing records loss of $2.8 billion in defense sector and maintains full-year surplus target

[26th Reuters] - US aircraft giant Boeing recorded a loss of 28 billion dollars on the 26th in the defense, space, and security sector, which has fallen into poor performance. Losses related to the presidential aircraft “Air Force One” and the refueling tanker business were recorded. Boeing is also struggling to increase production of jet airliners due to labor shortages and supply restrictions, but left the surplus forecast for the full year 20…

2 years ago·United Kingdom

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Associated Press News

Boeing posts $3.3B loss on costs tied to defense programs

Boeing reported a $3.3 billion loss for the third quarter Wednesday, as revenue fell short of expectations, it took a huge losses for fixed-cost defense programs and its commercial-airplane business

2 years ago·United States

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abc News

Boeing posts $3.3B loss on costs tied to defense programs

Boeing is reporting a $3.3 billion loss for the third quarter because of higher costs related to several government programs including building new Air Force One presidential planes

2 years ago·United States

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CNN

Boeing reports unexpected loss after taking hits from Air Force One, Starliner programs

Boeing reported an unexpected loss in the third quarter Wednesday after taking a massive $2.8 billion charge related to its high profile defense and space businesses, including completing the new versions of Air Force One and its much delayed Starliner space capsule.

2 years ago·Atlanta, United States

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Irish Independent

Boeing posts £2.9bn loss on costs tied to defence programmes

Boeing reported a surprising 3.3 billion US dollar (£2.9 billion) loss for the third quarter on Wednesday, as revenue fell short of expectations and it took huge losses for fixed-cost government programmes including new Air Force One presidential jets.

2 years ago·Ireland

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