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Boeing Profits: Boeing 737 Max Problems Improving, But Many More Problems Looming




The aircraft maker increased production of the Max to 19 per month in the third quarter, from 16 per month in the previous quarter. Boeing added that it “continues to progress towards a production rate of 31 per month in early 2022”.

That’s good news for the Max, which had been grounded for 20 months in 2019 and 2020 following two crashes that killed 346. It was approved to carry passengers to the United States late last year and is in service in most countries around the world, but not yet in China, a key market for air travel.

But Boeing’s other problems continue to loom.

In July, he halted deliveries of the 787 Dreamliner after revealing that the aircraft’s fuselage was not assembled to meet specific standards. Returning production of the Max and Dreamliner to normal is essential for Boeing’s recovery from the decimation of Covid-fueled air travel and the news about the Dreamliner is not good.

Boeing said on Wednesday it had cut production of the 787 Dreamliner to just two per month, down sharply from the five per month it was building earlier in the year.

Additionally, the Dreamliner’s quality issues will result in a total of $ 1 billion in unanticipated costs. It recorded $ 183 million of these costs in the last quarter.
Ten years later, is the Boeing 787 Dreamliner still more of a dream than a nightmare?
Boeing also billed $ 185 million for the latest issues with its Starliner space capsule program designed to take astronauts and possibly space tourists to the International Space Station. The company revealed in August that the problems with its propulsion system were worse than initially expected, putting another long delay on the horizon. A second unmanned orbital test flight is now scheduled for mid-2022, the company said.

Overall, the company reported basic operating profit of $ 59 million. That’s significantly lower than the $ 755 million he earned in the second quarter, but much better than the $ 754 million he lost a year earlier. Its adjusted net loss for the quarter was $ 350 million, worse than analysts expected.

Actions of Boeing (BA), a component of the Dow, were narrowly down at the start of the session




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