January 26, 2023: Boeing posted a $663 million loss for the fourth quarter as providing chain issues weighed on the outcome despite a rebound in aircraft sales and deliveries that drove up revenue.
Airlines and aircraft creators have benefited from a sharp being better in air travel, one of the affected industries by the Covid pandemic. But Boeing’s leaders have hesitated to ramp up aircraft production once the supply chain stabilises.
The firm is producing 31 of its 737 jets monthly and plans to increase that to the highest 50 per month in 2025 or 2026. It said it would raise the low production prices of the 787 Dreamliners to five every month toward the year-end and to 10 every month in 2025 or 2026. Providing those wide-body planes had been paused for nearly two years until this summer because of production flaws.
For the full year, Boeing has lost $5 billion despite a 7% increase in income to $66.6 billion.
Boeing developed $3.1 billion in cash flow in the fourth quarter, an increase than analyst forecasts, and $2.3 billion, the most since 2018, before the next of two fatal 737 Max crashes that sparked a yearslong crisis for the firm.
Its commercial aircraft unit generated $9.2 billion in businesses in the fourth quarter, up 94% from the year as deliveries increased. However, the company said it still produced a loss because of the abnormal costs and other expenses such as research and development.
Boeing reiterated its expectation to generate between $3 billion and $5 billion in cash flow.
“We’re proud of how we shut out 2022, and despite the mistakes in front of us, we’re okay in our path ahead,” CEO Dave Calhoun said in a memo to workers on Wednesday. “We have a robust pipeline of growth programs; we’re then for the future, which increases investments to prepare for our coming generation of products.”
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