February 3, 2023

Boeing delays its newest jet as losses soar

2 min read

The company announced on Wednesday that it would temporarily suspend production of its 777X passenger jet, which it plans to start delivering to customers by the end of 2023. Demand for Boeing’s commercial jet business, the key to long-range and wide-body passenger aircraft, continues to be affected by weak demand for international flights during epidemics.

Demand for this specialty has grown significantly as a result of recent corporate scandals. Boeing will continue to build both passenger and cargo versions of its earlier 777 jet, called the 777 Classic. These models are to be replaced with 777X.

The reversal of the 777X passenger jet plans would result in a total of $ 1.5 billion in extraordinary costs for Boeing, which will begin in the second quarter and continue until production resumes.

The company also booked ڈالر 1.2 billion in special charges in the first quarter, including higher supplier costs, higher costs to finalize technical requirements, and aircraft to be used as the next Air Force One aircraft. The schedule also includes a چار 660 million delay charge. It also includes charges of 21 212 million for disrupting trade due to sanctions imposed on Russia over the invasion of Ukraine, and 36 367 million for inflationary pressures on supply chain disruptions, Covid 19 and its Red Hawk military jet. Included.

Excluding these allegations, the company posted a core operating loss of 1.5 1.5 billion in the first quarter, far worse than Boeing’s operating loss of 35 353 million in the first quarter of 2021. Million in the quarter.

Shares Boeing (BA)A component of the Dow Jones Industrial Average fell nearly 4% in pre-market trading.

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