BOEING REDUCED ITS NET LOSSES BY HALF INCREASING AIRCRAFT QUALITY
BOEING REDUCED ITS NET LOSSES BY HALF INCREASING AIRCRAFT QUALITY
Boeing has cut its net loss by 55.6 percent to $2.242 billion in 2023, compared with a loss of $5.053 billion last year. The company’s revenue rose 17 percent to $77.794 billion in 2022, from $66.608 billion (61.463 billion euros) a year earlier. Additionally, operating cash flow showed a positive result of $5.96 billion, up 70 percent from last year.
At the end of 2023, the U.S. manufacturer’s total debt was $52.3 billion, the same as in the third quarter of the year.
The company’s total order backlog has grown to $520 billion with 5,600 commercial aircraft. In 2023, the commercial aircraft division generated revenue of $33.901 billion, a total of 528 aircraft (48 more than last year) due to 30 percent more aircraft deliveries than the previous year.
In the same period, defense, space and security market revenue rose 8 percent over the previous year to $24.933 billion. Adverse performance and mixing of other programs affected the results.
On the other hand, the global services sector’s full-year revenue rose 9 percent to $19,127 million.
The company has expressed its cooperation with the Federal Aviation Administration (FAA) following the January 5 Alaska Airlines 737-9 crash. The statement clarified that the company is taking immediate steps to strengthen the quality of the 737 family of aircraft. The measures include additional factory inspections and key supplier inspections, increased oversight by airline customers, and a one-day interruption in 737 production to refocus employees on quality.
To further ensure quality management, Boeing has appointed an external expert to lead an in-depth independent evaluation of the department’s quality management system. Recommendations will be provided directly to Chairman David Calhoun and the Aerospace Safety Committee of the Manufacturers Board of Directors.
Despite the crash, the 737 program continues to deliver aircraft, with a production rate of 38 per month. The production rate for the 787 program is now five per month.
