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Boeing announces first quarter net loss of US$561 million
April 29th 2021
Boeing overnight reported a net loss of US$561 million for the three months to March 31, 2021, an improvement from a net loss of US$641 million a year earlier. Read More » Revenue fell 10%, to US$15.2 billion, Boeing said in a regulatory filing. Boeing president and CEO, Dave Calhoun, said the global pandemic continued to challenge the overall market environment, but there were signs conditions will improve. "We view 2021 as a critical inflection point for our industry," Calhoun said in a conference call with the financial community. "While a full recovery is still likely to be a few years away, we are seeing encouraging signs, including progress on vaccine distribution in many countries and domestic travel recovery in certain markets."
Calhoun said Boeing still expected to deliver the first 777-9X in late 2023 and added the company was working closely with global regulators on all aspects of the aircraft's development, including the "rigorous test program". The OEM had stopped deliveries of the 737 MAX while the company addressed an electrical issue discovered in certain locations on the flight deck of some aircraft, he said.
