Boeing Co slashed production on its widebody programs, delayed the arrival of its newest jet, and confirmed the demise of its iconic 747, as it reported a bigger-than-expected quarterly loss on Wednesday amid fallout from the COVID-19 pandemic.
) slashed production on its widebody programs, delayed the arrival of its newest jet, and confirmed the demise of its iconic 747, as it reported a bigger-than-expected quarterly loss on Wednesday amid fallout from the COVID-19 pandemic.
The outbreak has crippled passenger travel and pushed major airlines to the brink of bankruptcy, resulting in many carriers deferring aircraft deliveries. The 737 MAX grounding has cost Boeing some $20 billion, ousted executives, halted production and hobbled its supply chain, with criminal and congressional investigations and lawsuits still ongoing.Boeing will now reduce 787 production to six jets a month in 2021 - a third rate drop from a year ago, when it was producing the Dreamliners at a record monthly rate of 14 planes.
Boeing’s commercial airplanes operating profit was hit by $845 million in abnormal production costs on 737 and factory closures related to COVID-19 fears. Boeing also logged $468 million in severance expenses related to reducing its roughly 160,000 workforce by 10%, saying on Wednesday deeper cuts were possible.“We’ll have to further assess the size of our workforce,” Calhoun told employees in a memo on Wednesday, lower production and demand.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Microsoft co-founder Bill Gates talks Covid-19 testing, the vaccine race and Big Tech competitionMicrosoft co-founder Bill Gates sat down with CNBC's 'Squawk Box' to discuss his thoughts on the delay in Covid-19 testing results, the state of coronavirus vaccines and how regulation will impact Big Tech companies.
Weiterlesen »
Weinstein Co. Estate Scrambles to Salvage Global SettlementThe Weinstein Co. bankruptcy estate is scrambling to salvage a $46.8 million global settlement that was rejected by a federal judge two weeks ago. The estate informed a Delaware bankruptcy judge on…
Weiterlesen »
Miss Mercy, Frank Zappa Muse and GTO Co-Founder, Dead at 71Miss Mercy, the Frank Zappa muse and style icon who co-founded GTOs (Girls Together Outrageously), has died at age 71
Weiterlesen »
'The View' co-host Joy Behar shares sweet story about 'dear friend' Regis PhilbinJoy Behar and her fellow 'The View' co-hosts Whoopi Goldberg, Sunny Hostin and Meghan McCain reminisce about television legend Regis Philbin, who died at the age of 88.
Weiterlesen »
Hear Jefferson Starship's New Song 'It's About Time,' Co-Written by Grace SlickMother of the Sun marks the band’s first new music in 12 years
Weiterlesen »