Boeing Co. earned a profit for the first time in nearly two years, surprising Wall Street and hinting at a potential turnaround after one of the worst financial crises in the planemaker’s centurylong history. The shares jumped.
Boeing Co. is nearing 1,000 scrapped or impaired jetliner orders this year, failing to notch any sales in September, as the long 737 Max grounding and the coronavirus pandemic extended their toll.
Boeing Co. sees a turbulent ride ahead for the world’s jetliner market, with sales contracting sharply this decade before eventually rebounding in the 2030s as new models and technologies spur growth.
Boeing Co.’s order stockpile shrank further last month as airlines and lessors backed out of commitments for the grounded 737 Max jetliner in a market devastated by the coronavirus pandemic.
Boeing Co. and its suppliers climbed as the plane maker resumed production of the 737 Max jetliner while working with regulators to end a yearlong global grounding.
Boeing Co. unveiled the first and deepest of its planned job cuts, saying it would notify 6,770 employees in the U.S. this week that their positions would be eliminated.
Boeing Co. got a boost after CEO Dave Calhoun told Fox Business that the planemaker’s 737 Max assembly lines will rumble to life later this month.