Boeing Reports Smaller Loss in First Quarter But Faces Financial Recovery Challenges

Published: 24 April 2024 at 17:12

Business

Boeing reported a core operating loss of $388 million, improved from $440 million a year earlier. However, the commercial airplanes unit saw losses nearly double to $1.1 billion, with revenue falling by 8% to $16.6 billion due to delivery issues. The company faces $443 million in compensation to airline customers for delays. CEO Dave Calhoun plans to leave by year-end, as Boeing works to repair its reputation and address quality concerns affecting production and delivery targets.