Boeing Reports Another Loss Due To 787 Woes

New York, United States, (UrduPoint / Pakistan Point News - 27th Jan, 2022 ) :Boeing reported a hefty fourth-quarter loss Wednesday as mounting costs connected to the widebody 787's woes more than offset a boost from the comeback of the 737 MAX after a lengthy grounding.

The US aviation giant reported a total of $3.8 billion in one-time expenses associated with compensating airlines for delayed deliveries of the 787 and more costly production processes.

Those costs were the biggest factor in a larger-than-expected quarterly loss that also pushed Boeing into the red in 2021 for the third straight year.

Chief Executive David Calhoun described 2021 as a "rebuilding year," noting the progress on the 737 MAX, the narrow-body jet that was grounded for 20 months following two fatal crashes.

The 787's current travails date to late summer 2020, when the company uncovered manufacturing flaws with some jets. Boeing subsequently identified additional issues, including with the horizontal stabilizer.

The difficulties curtailed deliveries between November 2020 and March 2021. Boeing suspended deliveries again in May after more problems surfaced.

Calhoun declined to offer a timetable for resuming 787 deliveries.

"On the 787 program, we're progressing through a comprehensive effort to ensure every airplane in our production system conforms to our exacting specifications," he said.

"While this continues to impact our near-term results, it is the right approach to building stability and predictability as demand returns for the long term."