Boeing posts a $355 million loss as the plane maker tries to dig out from under its latest crisis
Boeing is reporting a $355 million loss for the first quarter
Boeing said Wednesday that it lost $355 million on falling revenue in the first quarter, another sign of the crisis gripping the aircraft manufacturer as it faces increasing scrutiny over the safety of its planes and accusations of shoddy work from a growing number of whistleblowers.
Boeing's CEO said the company is in “a tough moment,” and its focus is on fixing its manufacturing issues, not the financial results.
Company executives have been forced to talk more about safety and less about finances since a door plug blew out of a Boeing 737 Max during an Alaska Airlines flight in January, leaving a gaping hole in the plane.
The accident halted progress that Boeing seemed to be making while recovering from two deadly crashes of Max jets in 2018 and 2019.
