Tue, 28 Jan 2025

Boeing loses almost $1bn every month in 2024

Boeing reported its second biggest annual loss ever after a tough year following a mid-air accident and worker strikes.

* Boeing lost $11.8 billion in 2024, its worst result since 2020.
* The company suffered from a safety crisis, quality control issues, and a damaging strike by 33,000 workers.
* In the three months to December, Boeing lost $3.8 billion due to the strike.
* The company's commercial aircraft unit was affected by well-publicised problems, including a door panel falling off a brand new 737 Max in January.
* Defence programmes were also impacted by rising costs on fixed-price military contracts.
* Boeing has announced plans to lay off 10% of its workforce and raise $20 billion through share sales and borrowing.
* The company delayed the entry into service of the 777X, which will now carry passengers in 2026 instead of 2025.
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