Boeing said it would miss its target for 737 Max deliveries this year, as well as taking nearly $800mn in charges in its defence business, including its high-profile programme to build Air Force One.
The plane maker reported a net loss of $1.6bn for the third quarter on $18.1bn in revenue. Its adjusted operating loss of $3.26 per share exceeded Wall Street’s expectation of $3.18.
Chief executive David Calhoun said in a memo to employees that, “despite the challenges that came our way in the third quarter”, Boeing remained on track in its recovery following the Max’s grounding in 2019 after two fatal crashes and the dive in demand for jets during the Covid-19 pandemic.
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