The quarterly loss of US$641 mil is a stark contrast to its profits of US$2.1 bill a year ago. FMTNews Boeing
NEW YORK: Boeing announced sweeping cost-cutting measures Wednesday after reporting a first-quarter loss of US$641 million following the hit to the airline business from the coronavirus pandemic.
Calhoun said the job cuts would be deeper – more than 15% – in commercial airplanes and services, as compared with defence and space systems, where the business has been more stable. Calhoun said the belt-tightening was needed to maintain adequate liquidity at a time its revenues are depressed, adding Covid-19.
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