Boeing reports US$4bn Q1 'cash burn'

BTN News
Sunday, 28 April 2024

US plane maker Boeing spent nearly US$4 billion after the loss of a cabin panel on a brand-new Alaska Air B737 MAX 9 in January, the Guardian reports.


The company said its Q1 cash burn was US$3.93 billion (the average analyst forecast was more, US$4.49 billion).

Revenue at the firm sank eight per cent in the first three months of the year to US$16.57 billion. Net losses narrowed to US$355 million, from US$425 million during the same period of 2023.

Since the Alaska Air incident, the US Federal Aviation Administration (FAA) has imposed a cap on production of Boeing’s 737 MAX aircraft line and has told the firm to develop a comprehensive plan to address “systemic quality-control issues”.

Boeing reports US$4bn Q1 'cash burn'

BTN News
Sunday, 28 April 2024

US plane maker Boeing spent nearly US$4 billion after the loss of a cabin panel on a brand-new Alaska Air B737 MAX 9 in January, the Guardian reports.


The company said its Q1 cash burn was US$3.93 billion (the average analyst forecast was more, US$4.49 billion).

Revenue at the firm sank eight per cent in the first three months of the year to US$16.57 billion. Net losses narrowed to US$355 million, from US$425 million during the same period of 2023.

Since the Alaska Air incident, the US Federal Aviation Administration (FAA) has imposed a cap on production of Boeing’s 737 MAX aircraft line and has told the firm to develop a comprehensive plan to address “systemic quality-control issues”.