approved it for flight again last November, followed soon after by aviation authorities around the world. A similar crash in Ethiopia months later killed 157 passengers and crew, leading to a 20-month global ban on the plane. A Max plane carrying 189 people crashed in Indonesia three years ago this Friday, killing everyone on board. The company weathered another $185 million hit from problems associated with its Starliner spacecraft.Īlthough the 787 program has been weighed down by quality issues, Boeing has benefited by the successful return of the 737 Max.
Of the estimated $1 billion cost from the delays, about $183 million was recorded in the third quarter of the year. “Although this effort lowered revenue in the quarter and drives increased expenses, these actions are essential to bolstering the long-term health of the program and are preparing us for sustained growth and success as market demand returns,” Mr.
In July, it said that it was slowing production of the plane and, this month, Boeing suffered another setback when a supplier told the company that certain parts it provided were made with the wrong titanium alloy. Boeing had paused deliveries of the plane briefly last year and again in May. Quality concerns have dogged the Dreamliner for more than a year. “Our commercial market is showing improved signs of recovery with vaccine distribution and border protocols beginning to open,” David Calhoun, Boeing’s chief executive, said in a letter to employees.
Boeing earned $15.3 billion in revenue in the quarter, up about 8 percent from the same period last year and just below analyst expectations. The company provided the estimate as part of its third-quarter earnings report, which showed that Boeing lost $132 million in the three months ending in September, a loss of 19 cents per share. Boeing said Wednesday that delays in making and delivering its troubled 787 Dreamliner jet will cost the company about $1 billion, weighing the company down even as it benefits from a broad travel resurgence.
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