2 weeks Ago
A Boeing sign in Seattle, Wash., on April 22. David Ryder/Reuters Boeing BA-N reported a smaller first-quarter loss on Wednesday, as the U.
S. plane maker produced and delivered more jets, after a quality crisis and crippling strike shuttered production of most of its aircraft in late 2024. Shares of the Dow component rose 4.
2 per cent in premarket trading. Boeing has been delivering more planes and wants to boost output of its strong-selling 737 Max jets to 38 a month in 2025, after production slumped last year due to a series of crises and a strike by about 30,000 U.S.
West coast factory workers. But the plane maker faces pressures from supply-chain snags that have delayed production and dented its ability to cater to a booming aerospace market. It reported an $11.
8-billion loss for 2024 due to problems at its major units. Boeing is also dealing with the fallout of a U.S.
-China trade war that led to the return of two of its planes destined for a Chinese carrier. The plane maker is working to chart a recovery path under new CEO Kelly Ortberg, who is taking steps to streamline operations and strengthen its balance sheet. On Tuesday, Boeing announced the sale of portions of its Digital Aviation Solutions business, including navigation unit Jeppesen, for $10.
55-billion, as part of a plan by Ortberg to reduce debt by selling off non-core assets. In a letter to employees, Ortberg referred to 2025 as the company’s “turnaround year,” citing higher first-quarter deliveries and product improvements. “We’re building higher quality airplanes and delivering them with more predictability,” he said in the letter.
The plane maker reported a loss of 16 cents per share during the first quarter, compared with a loss of 56 cents per share a year ago. Free cash flow usage, a metric closely watched by investors, during the quarter improved to negative $2.3-billion, compared with negative $3.
9-billion a year ago..
