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Boeing reported a $6.2 billion loss in the third quarter to Sept. 30, a disappointing result as thousands of the company’s workers voted against ending a weeks-long strike action over pay and other issues.
The aviation and aerospace giant also reported a 1% decline in revenue for the quarter.
The loss underscores the myriad issues Boeing faces: more than 30,000 machinist union members are on strike, production is paralyzed, a test of its much-delayed space capsule failed to deliver as expected, and the company’s safety record is under regulatory and congressional scrutiny.
Boeing faces a $2 billion pre-tax charge for the third quarter for some of its space and defense programs — including the troubled Starliner crew capsule, which underwent its first crewed test after years of delays in June. The mission has resulted in two astronauts being stuck in space for months more than anticipated because of technical issues.
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Wednesday’s results mark the first under new CEO Kelly Ortberg, who is charged with fixing the company’s safety crisis. Ortberg has said his focus is on “fundamentally changing the culture” at Boeing and stabilizing the business, which includes reducing Boeing’s workforce by 10%, or 17,000 jobs.