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Boeing stems cash burn for first time since 2023 but takes $4.9 billion charge on 777X delays
- Boeing told investors it expects to report a more than 20% jump in revenue and a narrower third-quarter loss, with deliveries supporting its recovery efforts.
- After years of safety and production crises, Boeing is recovering from two crashes, pandemic-era supply-chain and manufacturing disruptions under Kelly Ortberg, CEO of Boeing.
- Earlier this month the Federal Aviation Administration lifted the 737 Max production cap to 42 a month from 38 and allowed Boeing to perform final signoffs, while airline customers report more accurate delivery projections.
- A key near-term risk is the prolonged 777X delay as the Max 7 and Max 10 variants remain years behind schedule without regulator approval, while about 3,200 defense unit workers have been on strike since summer.
- Despite progress, Boeing remains at risk as increasing deliveries is crucial to stem a cash outflow since the start of 2024 through June, and the company still 'isn't out of the woods yet'.
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Associated Press News+13 Reposted by 13 other sources
Boeing pushes 777X jet deliveries to 2027 amid certification delays
Boeing on Wednesday reported mixed third-quarter results, with higher aircraft deliveries and a growing order backlog offset by certification delays for its 777X jet.
·United States
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The American airline manufacturer Boeing again announced on Wednesday a heavy quarterly loss, despite a strong rebound in its deliveries, due to a heavy burden on its 777X twinning program, which was very late.
·Montreal, Canada
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The new model comes later than expected: Because the 777X is not delivered until 2027, the aircraft manufacturer has to accept a lot of losses. On the other hand, there is good news about the crisis jet 737 Max.
·Germany
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Total News Sources96
Leaning Left14Leaning Right16Center23Last UpdatedBias Distribution43% Center
Bias Distribution
- 43% of the sources are Center
43% Center
L 27%
C 43%
R 30%
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