Boeing posts 3.8 billion US dollar loss in fourth quarter
The troubled aircraft manufacturer has lost more than 35 billion US dollars since two fatal crashes in 2019.
Boeing posted a fourth-quarter loss of 3.8 billion US dollars (£3.05 billion) on Tuesday as a machinists’ strike and other problems continued to plague the troubled aircraft manufacturer.
Boeing has lost more than 35 billion dollars (£28 billion) since 2019 following the crashes of two then-new Max jets that killed 346 people.
The numbers Boeing released are in line with figures pre-reported by the company last week, including nearly 3 billion dollars (£2.4 billion) worth of charges in the period due to the labour stoppage, job cuts and problems with a number of government programmes.
Boeing’s loss per share was 5.46 dollars (438p) per share, well above the 3.08 dollars (247p) loss that Wall Street analysts expected, according to the data firm FactSet.
The fourth quarter capped a rough year for Boeing.
A strike by the machinists who assemble the best-selling 737 Max, along with the 777 jet and the 767 cargo plane at factories in Renton and Everett, Washington, halted production at those facilities and hampered Boeing’s delivery capability.
The walkout ended after more than seven weeks when the company agreed to pay rises and improved benefits.
