Boeing Swings to Second Quarter Loss

Boeing has reported a second quarter loss, stemming from reclassification of 787 costs and unexpected expenses for the 747.

The Q2 loss of $234 million compared with a profit of USD$1.1 billion a year earlier. Revenue rose 1 percent to USD$24.76 billion.

The plane maker also reported USD$3.2 billion in cash flow in the quarter, down 2 percent from a year ago.

Boeing’s underlying performance came from increased deliveries of twin-aisle aircraft, and better profitability in its military, space and security business.

Boeing’s delivery of commercial aircraft rose about 1 percent in the quarter from a year ago.

Deliveries of 787s and 777s were up about 12 percent and 8 percent, respectively, but the company is delivering fewer 737s as it begins production of its successor, the 737 MAX. Those deliveries are expected to rise next year once the new plane is certified and begins service.

(Reuters)