Is Boeing ever going to recover?

WASHINGTON, April 10 (Reuters) - Boeing Co (BA. N) intends to restore production of its bestselling 737 MAX jet to its 2019 rate of 52 a month by January 2025 as it seeks to fully recover from two deadly crashes and the COVID-19 pandemic that curtailed output, two people familiar with the matter said.



People Also Ask

Boeing expects the global aircraft fleet to almost double over the next 20 years, from about 24,500 jets in 2022 to 48,600 by 2042. Last year's outlook predicted a global fleet of 43,470 aircraft in 2041. The company also raised its industrywide passenger traffic forecast growth rate slightly from 3.8% to 4%.

MORE DETAILS

The company blamed the unexpected loss on “abnormal production costs” as it tried both to deliver the remaining backlog of 737 Max jets and to step up deliveries of the 787 Dreamliners. The company's production of the 787 remains below normal rates.

MORE DETAILS

For the first quarter of 2022, Airbus had earnings of €1.26 billion ($1.34 billion) while Boeing lost $1.22 billion. Airbus reported total revenue of €12 billion ($12.7 billion) compared to Boeing's $14 billion.

MORE DETAILS

Boeing deliveries of new jets dip as the company and a key supplier struggle with production flaws. ARLINGTON, Va. (AP) — Boeing deliveries of new airline jets slumped in the third quarter as the company struggled with production problems that are cutting into its ability to generate cash.

MORE DETAILS

Boeing's net loss narrowed to nearly $1.64 billion, or $2.70 a share, for the third quarter compared with the year-earlier period when it had a loss of $3.31 billion, or $5.49 a share. Adjusting for one-time items, mostly related to pension plans, the company lost $3.26 per share, a wider-than-expected adjusted loss.

MORE DETAILS

So the first commercial passenger airline in the series was assigned the number 707 (pronounced Seven Oh Seven). The Boeing 707 is credited with launching the beginning the “Jet Age.” It was decided that all model numbers that either began or ended in a “7” would be reserved for commercial jets.

MORE DETAILS