Is Boeing Finally Out of Woods?
Last month, it launched the new 777-8 Freighter and expanded its 777X and freighter families of jetliners with an order for up to 50 aircraft from Qatar Airways.
Last month, it launched the new 777-8 Freighter and expanded its 777X and freighter families of jetliners with an order for up to 50 aircraft from Qatar Airways. Over the past three months, Boeing has announced orders from carriers including United Parcel Service (UPS), DHL Express, Atlas Air Worldwide Holdings (AAWW), China Airlines, Singapore Airlines (SINGY), Emirates, Saudia, Air Tanzania and Akasa Air.
But the company also shouldered some troublesome news on Feb. 15 when the Federal Aviation Administration announced it would retain the power to approve Boeing 787 Dreamliner aircraft for flight rather than return that authority to the company, which has not delivered any new Dreamliner aircraft since last May due to production flaws. The FAA added Boeing would regain that authority once 787 deliveries resumed and the aircraft passed final inspections. “This will allow the agency to confirm the effectiveness of measures Boeing has undertaken to improve the 787 manufacturing process,” the FAA said in a statement.
In its most recent earnings report, fourth-quarter data published on Jan. 26, Boeing recorded $14.79 billion in revenue, down from $15.3 billion one year earlier, with a net loss of $4.16 billion, down from fourth-quarter 2020 net loss of $8.43 billion. Year-over-year revenue declines were recorded across Boeing’s commercial airplanes and defense-space-security segments while its global services and Boeing Capital segments recorded year-over-year revenue upswings.
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