Boeing reported a $11.8 billion loss for 2024, attributing the financial setback to ongoing challenges with the 737 Max program and supply chain disruptions. The company also faced a strike by machinists, impacting production of its best-selling aircraft and other models. Boeing delivered fewer aircraft than in 2023, lagging behind Airbus in net orders for commercial planes.
FILE - In this March 11, 2019, file photo, rescuers work at the scene of an Ethiopian Airlines flight crash near Bishoftu, Ethiopia. A published report says pilots of an Ethiopian airliner that crashed followed Boeing’s emergency steps for dealing with a sudden nose-down turn but couldn’t regain control. Boeing has lost more than $35 billion since 2019 following the crashes of two then-new Max jets that killed 346 people. For the full year 2024, Boeing logged a loss of $11.8 billion.
Deliveries are an important source of cash for plane manufacturers since buyers typically pay a large portion of the purchase price when their orders are fulfilled.More than three-quarters of the planes that Boeing furnished were 737 Max jets, a reminder of how integral its best-selling airline model has been to the company’s fortunes and challenges., in early January.
The hit to the company’s finances and reputation extended to sales of new aircraft. Boeing received no 737 Max orders for at least two months and ended the year far behind Airbus in total net orders for commercial planes, an indicator that factors in cancellations.
BOEING 737MAX AIRPLANEPRODUCTION FINANCIAL LOSS SUPPLYCHAIN
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