Saturday, June 15, 2024

Boeing profits wiped out as 737 MAXs grounded

Boeing has been pushed into second quarter and first half losses due to the cost of grounding the global 737 MAX fleet. In the second quarter, losses amounted to $2.9 billion compared to a $2.2 billion profit in the same period of 2018. First half losses totalled $793 million compared to a $4.6 billion in […]

Grounding the 737 MAX to cost Boeing $5 billion

Grounding the 737 MAX is likely to cost Boeing $5 billion, the aircraft giant has announced a week before it releases its second quarter results. Boeing says it will record an after-tax charge of $4.9 billion due to delayed aircraft deliveries and associated issues, resulting in a $5.6 billion reduction in revenue and pre-tax quarterly […]

Boeing returns to profit in the second quarter

Boeing Company has returned to profit in the second quarter, with net earnings of $1.7 billion compared to a loss of $234 million the previous year. The loss in the second quarter of 2016 was due to an R&D reclassification of $1.2 billion on the 787 program, a $1.2 billion pre-tax charge for the 747 […]

Boeing profits grow 19% in the first quarter

Boeing profits grew 19 per cent in the first quarter of 2017 with the Commercial Airplanes division posting strong growth. The company made a profit of $1.4 billion compared to $1.2 billion in 2016 despite revenue falling seven per cent to $20.9 billion, which it says was due to the timing of commercial and defence […]

Boeing profits fall despite strong fourth quarter

Boeing Commercial Airplanes’ earnings from operations fell 39 per cent in 2016 despite improvements in the fourth quarter. Full year earnings fell from $5.1 billion in 2015 to $3.1 billion in 2016, though it improved 160 per cent in the fourth quarter to $1.47 billion. Fourth quarter revenue was up one per cent to $16.2 […]

McAllister to succeed Conner at Boeing Commercial Airplanes

Kevin McAllister is to take over as Boeing Commercial Airplanes president and chief executive officer (CEO), succeeding vice chairman, Ray Conner. Conner will continue as Boeing vice chairman through 2017, working closely with McAllister on the hand-off of customer, supplier, and community and government relationships. The 61-year old has been president and CEO of Commercial […]

Boeing makes second quarter loss of $234 million

Boeing made a loss of $234 million in the second quarter of 2016, which it says is due to reclassification of research & development (R&D) for the 787, and charges for the 747 and KC-46 Tanker programmes. Boeing warned on 21 July that the changes to the 787, 747 and KC-46 would impact the results. […]

Fewer deliveries causes Boeing Commercial Airplanes decline

Boeing has seen revenues and profits from its Commercial Airplanes division fall in the first quarter of 2016 because of fewer aircraft deliveries. Commercial Airplanes revenue fell by six per cent to $14.4 billion because deliveries during the quarter were down by four per cent to 176. Profits for the Commercial Airplanes division declined by […]

Muilenburg elected Boeing chairman

Dennis Muilenburg has been elected chairman of Boeing, effective from 1 March, succeeding Jim McNerney, who is retiring. Muilenburg succeeded McNerney as Boeing’s chief executive and joined the board in July 2015. He was president and chief operating officer between 2013 and 2015, having served as president and CEO of Boeing Defense, Space & Security. […]

Boeing profits fall due to Commercial Airplanes weakness

Boeing has seen its 2015 profit drop by five per cent to $5.17 billion as earnings from its Commercial Airplanes division fell by 20 per cent to $5.15 billion due to weakness in the cargo market. Boeing saw profits for the year drop by five per cent from $5.4 billion in 2014 to $5.17 billion […]

Boeing profit increases by four per cent

Boeing has seen its year-to-date (YTD) profit increase by four per cent to $4.1 billion despite earnings from operations for the Commercial Airplanes division falling five per cent to $4.6 billion. For Boeing as a whole, YTD revenue increased by nine per cent to $72.5 billion from $66.3 billion in the same period of 2014. […]