Boeing sees losses narrow over first quarter

Boeing has reported a net loss of $561 million for the first quarter of 2021, a modest improvement on the $641 million in losses reported for the same period last year.

The figures represent a sixth straight quarterly loss for the manufacturing giant.

Revenue for the first three months of the year slipped ten per cent, down from $16.9 billion to $15.2 billion for the period.

“I am proud of the progress our global team made across our business in the first quarter as we continued to transform our enterprise, strengthen our safety processes and sustain critical investments for our future,” said Boeing chief executive, Dave Calhoun.

“While the global pandemic continues to challenge the overall market environment, we view 2021 as a key inflection point for our industry as vaccine distribution accelerates and we work together across government and industry to help enable a robust recovery.

“Our balanced commercial, defence, space and services portfolio continue to provide critical stability for our business – and we remain focused on safety, quality and integrity as we deliver on our customer commitments.”

Boeing delivered 77 commercial aircraft in the first three months of the year, up from 50 for the same period last year.

The change was largely driven by a return to service of the Boeing 737 Max after two years out of service following two fatal crashes.

The company secured orders for 100 737 aircraft from Southwest Airlines during the period, as well as for 25 from United Airlines and 23 from Alaska Airlines.

Atlas Air also ordered four 747 freighter aircraft.



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