Boeing: Profit drop due to manufacturing defects | Free press

Boeing, a rival of Airbus, is still fighting. The manufacturing shortcomings of the 787 Dreamliner long-haul jet once again weighed on the quarterly balance sheet. But CEO Calhoun exudes optimism.

Arlington

The crisis-stricken US aircraft manufacturer Boeing was in the black in the second quarter, but made significantly less. Net income fell 72 percent year-on-year to $ 160 million, an Airbus rival said Wednesday.

Boeing still faced a loss of $ 1.2 billion in the previous quarter. But day-to-day business remains slow, with sales plummeting 2 percent year-on-year to $ 16.7 billion in the three months ended June.

Boeing continued to suffer from the fact that the long-haul 787 Dreamliner could not be handed over to customers due to manufacturing defects. In its quarterly report, the group said it will work with the US Federal Aviation Administration (FAA) on final steps to resume deliveries. Boeing has been pushing for months, but the FAA has the final say. The group’s CEO, Dave Calhoun, was optimistic and explained in a message to employees that the group was back on track after years of crisis.

High demand for the 737 Max

After all, business is going better with the former hapless 737 Max pilot. Demand for a mid-haul jet, which after two disasters could not take off for about a year and a half, led to revenue growth in the commercial airliners division. Boeing has increased the production rate of its model series to 31 machines per month, despite continuing supply chain problems and engine shortages. It was only the 16th a year ago. The series is an extremely important source of sales and profits.

On the other hand, difficulties have arisen in the armaments and space sectors. Here, revenues fell ten percent to $ 6.2 billion. With the troubled Starliner spacecraft, costs continue to get out of hand, putting a further strain on the balance sheet. Overall, Boeing’s revenues and profit for the quarter were well below analysts’ expectations. Given the surprisingly positive development of cash flow and hopes for Dreamliner to return, the stock reacted with an increase in price ahead of the market. (dpa)

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