From CNBC: 2025-01-28 06:53:00

Boeing CEO Kelly Ortberg addresses investors at the U.S. Chamber Of Commerce Aviation Summit amid concerns over the company’s sixth consecutive annual loss. Preliminary results project a $4 billion loss for the fourth quarter, with revenue below expectations at $15.2 billion. Manufacturing issues persist, impacting profits and deliveries to customers.

Following a series of setbacks, including fatal 737 Max crashes, pandemic disruptions, and manufacturing defects, Boeing faces mounting challenges. A recent machinist strike further delayed production, leading to a projected $3.5 billion burn rate in the fourth quarter. The company aims to resume production and certification of its aircraft models.

Despite CEO support, key Boeing customers like American Airlines are affected by delivery delays. Flight suspensions and frequency reductions due to late Boeing 787 Dreamliner deliveries are causing disruptions. The airline plans to offer alternate travel arrangements to mitigate the impact on affected passengers while navigating the global network.

European budget airline Ryanair cuts its passenger traffic goal due to frustrating Boeing delivery delays, affecting operations and growth targets. Boeing leaders, including Ortberg, are expected to address cost overruns, delays, and policies during an analyst call. Pressing concerns include defense division challenges and potential impacts of new administration policies.



Read more at CNBC:: Boeing (BA) 4Q 2024 earnings