the technically plagued Boeing dreamliner
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Boeing reports $1.6 billion loss
The Boeing Co’s troubled 787 and 747-8 jet programs dragged down its third-quarter earnings, causing the company to report a $1.6 billion loss this Wednesday. Last month, Boeing disclosed a $1 billion charge on its delayed 747-8 jumbo jet program. In August, Boeing had announced it would take a $2.5 billion charge on its 787 Dreamliner program. On Wednesday, Boeing announced that it wrote down another $138 million on the program between August and September. Both Boeing and its commercial rival Airbus have been faced with increasing requests for jet delivery deferrals or order cancellations as airlines struggle with steep air traffic declines. Boeing booked 96 gross orders for commercial jets in the quarter but logged in 17 jet order cancellations. The company delivered 113 aircraft in the third quarter. That’s up from 84 deliveries in the third quarter of 2008. However, 2008’s performance was affected by the Machinists strike.
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