This archive report was first published on 27 October 2021.
October 27, 2021, marked another challenging quarter for Boeing as the company struggled to fully recover from earlier setbacks with its 787 plane.
The aviation giant reported a loss of $109 million in the third quarter, a significant improvement from the $449 million loss in the same period last year.
However, the company's efforts to bounce back were hindered by $1 billion in new expenses, including $183 million related to the 787 Dreamliner in the third quarter.
Additionally, a $185 million charge was incurred due to the delayed test flight of the unmanned CST-100 Starliner capsule.
Boeing Chief Executive David Calhoun expressed optimism, stating, "We are driving stability across our operations, investing in our future and positioning our teams to deliver for our customers as the market recovers."
The company halted deliveries of the 787 in May following issues with the plane and has since been reworking undelivered 787s after being notified by a supplier that some parts were not manufactured properly.
Boeing is currently producing two 787 jets per month and continues to engage in discussions with the FAA regarding required actions for resuming delivery.
Notably, revenues rose eight percent to $15.3 billion, largely due to the return of deliveries of the 737 MAX, which was grounded for 20 months following two fatal crashes.
Earlier this month, a US federal grand jury charged a former Boeing chief test pilot with misleading aviation regulators during the certification process for the 737 MAX.
Shares rose 0.6 percent to $211 in pre-market trading.
