Troubled Boeing reports multi billion dollar loss at end of 2024
Published on 24/01/2025
The US aircraft manufacturer closed last year with a steep loss and weak sales, according to preliminary figures released by the company.
The aircraft manufacturer Boeing, said it incurred nearly $3 billion (€2.85bn) worth of charges in the fourth quarter of 2024 due to a lengthy labour stoppage, job cuts and problems with a number of government programmes.
As a result, the Chicago-based aerospace giant said that it will report a loss of $5.46 (€5.19) per share next week when it issues its full financial results.
Wall Street had been expecting a fourth-quarter loss of $1.80 per share.
The sizeable loss caps a rough year for Boeing. A strike by machinists who assemble the best-selling 737 Max, along with the 777 jet and the 767 cargo plane at factories in Renton and Everett, Washington, halted production at those facilities and hampered Boeing’s delivery capabilities.
The stoppage ended after more than seven weeks when the company agreed to increase pay and improve benefits for workers.