Boeing first loss for 23 years


The financial cost to Boeing of the MAX crisis began to emerge last week after the company released its results for the last quarter of 2019 and announced its first annual loss for a generation.

The figures also show aircraft deliveries dropped significantly year on year. Delays to the B777X project were said to have contributed but are on the way to being solved after the aircraft made its successful maiden test flight.
For 2019, Boeing made a net loss of $636m, in stark contrast to the previous year when the company had net earnings of $10.5bn. Boeing now pegs the financial impact of the 737 Max grounding at $18.6 billion, including estimated costs associated with concessions to customers and disruption to the now-halted production line.