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Boeing reports loss as pandemic, Air Force One problems weigh on it
Updated April 28, 2021, 1 hour ago
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Boeing reports loss as pandemic, Air Force One problems weigh on it
Boeing reported a wider than expected first-quarter loss on Wednesday and took another charge on its program to build two new Air Force One presidential planes after firing a contractor it hired to help perform the work. The company did not provide a timetable for fixing the latest problem with its 737 Max jet, an electrical issue that has forced airlines to park more than 100 of the planes. The combination of self-inflicted damage and a coronavirus pandemic that has depressed demand for new planes pushed Boeing to its sixth straight quarterly loss. However, CEO David Calhoun said the company is at an âinflection point,â with an increase in vaccinations against COVID-19 raising hopes for a rapid recovery in air travel that could translate to aircraft orders. Boeing lost $561 million �