Daily Management Review

Boeing ends sixth consecutive quarter with a loss


US aerospace corporation Boeing presented its first quarter results: the company's revenues fell by 10% year-on-year to $15.2bn.

The net loss was $561 million for the sixth consecutive quarter, which the company ended with a loss. At the same time, the loss narrowed slightly compared to the first quarter of 2020, when it reached $641 million.

"While the global pandemic continues to negatively impact the overall market, we see 2021 as a key turning point for our industry as vaccine distribution accelerates and we work together with government and the industry to help drive a sustained recovery," Boeing CEO David Calhoun said at the release.

The company reported $318m of costs related to difficulties with the presidential jets: it was revealed a few weeks ago that Boeing was suing the company that was to create the interiors for these planes and did not meet the deadline. At the same time, with the COVID-19 pandemic continuing to have a negative impact on sales and some problems with the company's planes, Boeing signed some rather big contracts for aircraft deliveries in the first quarter.

source: reuters.com