Boeing Co. reported its sixth consecutive quarterly loss but said it is at an inflection point as production and delivery of new jetliners hinge on vaccination rates and trade relations between the U.S. and China.
The aerospace giant resumed deliveries of 737 MAX and 787 Dreamliners during the quarter, but continues to be dogged by quality problems. The company booked a charge on its work replacing the Air Force One presidential jets because of problems with a supplier.
The patchy recovery of global air travel remains the biggest issue for Boeing and its huge supply chain, with domestic markets in the U.S. and some parts of Asia recovering to pre-pandemic levels while Europe and long-haul travel struggle.
Boeing shares fell in early trade, recently down more than 3%.
Aircraft deliveries are starting to increase, and Boeing left its jet production plans unchanged. Chief Executive David Calhoun said Wednesday that near-term increases hinge on relations with China, its single largest customer. China has yet to follow the U.S. and other regulators in recertifying the MAX.
The Link LonkApril 28, 2021 at 11:01PM
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Boeing Reports Loss as Air Force One Work Drags - The Wall Street Journal
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