Boeing trims annual 737 delivery target due to supplier errors
© Reuters. FILE PHOTO: A Boeing logo is seen at the company's technology and engineering center in Sao Jose dos Campos, Sao Paulo state, Brazil October 10, 2023. REUTERS/Gabriel Araujo/File Photo -Boeing on Wednesday cut its 737 delivery forecast for this year due to quality issues at supplier Spirit AeroSystems stuck to its goal of generating $3 billion to $5 billion in free cash flow this year. Shares were up 3.6% in premarket trade.
It reported another quarter of negative margins due to combined losses of $797 million on its next-generation Air Force One and an unspecified satellite program. "Thanks to the culture we're building, we have identified non-conformances from the past that we now have the rigor to find and fix once and for all."
It was forced to cut its 2022 delivery goal due to industry-wide supply and labor shortages, some of which have abated this year.
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Boeing trims annual 737 delivery target due to supplier errorsBoeing (BA.N) on Wednesday cut its 737 delivery forecast for this year due to quality issues at supplier Spirit AeroSystems (SPR.N), a temporary setback to the planemaker that is looking to recover from its own set of crises.
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