Wednesday, May 22, 2024
 
 

Boeing posts full year of loss of $636 million amid 737 MAX settlebacks

EPA/RITCHIE B. TONGO
A man walks past a logo of multinational Aircraft manufacturing company Boeing at Taoyuan airport, in Taoyuan, Taiwan, 14 June 2016.

- Advertisement -

Boeing today reported its first annual loss in more than two decades. The company reported a $1.0 billion loss in the fourth-quarter and a loss of $636 million for all of 2019, its first full-year loss since 1997.
Boeing’s 737 MAX has been grounded since March after two crashes killed 346 people. The crashes led to investigations of the company’s safety practices.
Newly-installed Chief Executive David Calhoun vowed to turn the company around: “We recognise we have a lot of work to do”, he said, and added: “We are committed to transparency and excellence in everything we do”.
The company’s revenues in the fourth quarter jumped 36.8% to $17.9 billion, while revenues for all of 2019 dropped 24.3%to $76.6 billion. The crisis resulted in halting of the production of the MAX until the crisis is resolved.
“We are focused on returning the 737 MAX to service safely and restoring the long-standing trust that the Boeing brand represents with the flying public. Safety will underwrite every decision, every action and every step we take as we move forward”, Calhoun promised.

- Advertisement -

Subscribe to our newsletter

Latest

U.S.-Kazakhstan dialogue on human rights and democratic reforms continues

The United States and Kazakhstan convened the third annual...

Tackling new threats to critical energy infrastructure

The explosions that targeted the Nord Stream pipelines from...

Georgia’s “Foreign Representatives Law” moves forward amid protests

On May 14, Georgia’s parliament approved (84/150) a hotly...

North Macedonia: Sliding back towards the political dark side?

As most analysts predicted after the strong showing of...

Don't miss

U.S.-Kazakhstan dialogue on human rights and democratic reforms continues

The United States and Kazakhstan convened the third annual...

Tackling new threats to critical energy infrastructure

The explosions that targeted the Nord Stream pipelines from...

Georgia’s “Foreign Representatives Law” moves forward amid protests

On May 14, Georgia’s parliament approved (84/150) a hotly...

North Macedonia: Sliding back towards the political dark side?

As most analysts predicted after the strong showing of...

A Green 5+1, regional water issues in Central Asia and previewing next year’s Astana International Forum

Kazakhstan’s Astana International Forum (AIF) has been postponed to 2025, as Astana...

New wave of U.S. sanctions target Russia’s foreign suppliers and industrial base

On May 1, the U.S. Department of State together with the U.S. Treasury Department unveiled a wide-ranging new list of anti-Russia sanctions covering an...

New U.S. Special Envoy for Middle East Humanitarian Issues named

Although currently traveling in China, U.S. Secretary of State Antony Blinken announced a reshuffling of the position of Special Envoy for Middle East Humanitarian...

G7 Italy 2024 Foreign Ministers’ Statement on Addressing Global Challenges, Fostering Partnerships

The text of the following statement was released by the G7 foreign ministers of Canada, France, Germany, Italy, Japan, the United Kingdom and the...

U.S.-Ukraine Partnership Forum focuses on engaging the private sector in Ukraine’s Recovery

On April 17, in partnership with the U.S. Department of State, the U.S. Department of Commerce, and USAID, the U.S. Chamber of Commerce hosted...

U.S. and U.K. take new steps to reduce Russia’s revenue from metals

On April 12, the U.S. Department of the Treasury, in coordination with the United Kingdom, issued two new prohibitions in order to disrupt the...

EU-Armenia-U.S. High-level Meeting: A Critical Moment for the South Caucasus

On April 5, an EU-Armenia-U.S. trilateral meeting was held between European Commission President Ursula von der Leyen, Armenian Prime Minister Nikol Pashinyan and U.S....

New U.S.-Japan-Philippines Pacific bulwark established

The leaders of Japan, the Philippines, and the United States met in Washington April 11 for the first ever trilateral summit with a deep...

EU, U.S., Uzbekistan and other partners strengthen critical raw materials cooperation

The European Union, the United States, and other Minerals Security Partnership (MSP) partners, joined by Kazakhstan, Namibia, Ukraine, and Uzbekistan, officially launched the Minerals...