Boeing sold more aircraft last quarter, causing revenue to rise sharply to $22.7 billion. But there was no profit this quarter either. The manufacturer recorded a loss of $612 million, partly due to reputational damage and staff shortages.
Revenue for the past quarter grew by a third to $22.7 billion. The American aircraft manufacturer delivered 150 commercial aircraft, a significant increase compared to the same period last year, when 92 aircraft were delivered.
Although the number of aircraft delivered increased, Boeing achieved a negative result of $612 million. The loss is less than in the same period a year earlier, when the net loss was $1.4 billion.
Boeing is still suffering losses due to production delays and staff shortages. In addition, the manufacturer struggled with image damage after prolonged problems with the 787-8 Dreamliner.
Yet Boeing seems to be recovering this quarter after a period of significant problems. Last year, the company suffered huge losses due to technical problems with aircraft, such as the emergency door coming loose during a flight with a Boeing 737 MAX 9 aircraft from Alaska Airlines.
Boeing appears to be benefiting from Trump trade agreements
Meanwhile, orders continue to pour in for the aircraft manufacturer. With 455 orders last quarter, the order book now stands at more than 5,900 commercial aircraft worth $522 billion.
Boeing appears to be benefiting from Trump’s trade agreements, writes The Wall Street Journal. For example, countries such as the United Kingdom and Indonesia promise to place large orders with Boeing as part of their deal with Trump.