Boeing Loses $425 Million But Plans Production Boost For Max
April 26, 2023 9:45AM PDT
(AP) – Boeing says it lost $425 million in the first quarter as it continues to deal with production problems on its airline jets.
The loss is more than Wall Street expected.
Boeing said Wednesday that revenue jumped 28% from a year earlier, however, beating analysts’ expectations.
The company continues to get orders as airlines scoop up new planes to meet rising travel demand.
Boeing’s latest production problem involves fittings used to attach the tail to the fuselage on its 737 Max jet.
Airlines will have to wait for new planes while Boeing fixes the problem.