Boeing’s third quarter results were a paradox of growth and loss.
While aircraft deliveries increased, profits did not. The company reported a net loss of $5.34 billion, largely due to a $4.9 billion pre-tax charge linked to the delayed 777X program.
Revenue rose 30 percent to $23.27 billion, driven by stronger output of the 737 MAX and 787 Dreamliner. Yet, the 777X, first announced in 2013 and once expected to fly commercially by 2020, now won’t reach customers until 2027, following another postponement amid FAA certification bottlenecks.
CEO Kelly Ortberg emphasized that there are no structural or engine issues with the aircraft, instead attributing the delays to regulatory processes. CFO Jay Malave projected the program could turn cash-positive by 2029, though the delay will mean a $2 billion shortfall next year.
Meanwhile, production is ramping up: 737 MAX output is rising to 42 jets per month, and 787 Dreamliner production to seven per month by year’s end. Boeing’s order backlog has hit $636 billion, but ongoing labor strikes involving 3,200 machinists and lingering certification problems still cast shadows.
Analysts note that Boeing’s recovery now depends not just on building planes, but on restoring confidence — both in the markets and in the air.