HomeAir LineBoeing more than halves net losses in 2023

Boeing more than halves net losses in 2023

Finally, some positive news for Boeing because, according to the results released today, the North American company is beginning to recover its net losses, managing to reduce them by more than half compared to the 2022 data. The shadow of the accident of the Alaska Airlines flight 737MAX9 is still present, so no expectations have been presented for 2024.

In the fiscal year 2023 Boeing reduced its losses 55.6% year-on-year, up to 2,242 million dollars (2,068 million euros). Thus, it partially recovers from the previous year’s numbers, with 5,053 million dollars, 4,662 million euros.

Boeing has been experiencing five years of losses, as a result of the 737 MAX crisis, the economic crisis resulting from the pandemic and for a few weeks, as HOSTELTUR already reported, due to the situation derived from the 737 MAX 9which lost part of its fuselage in mid-flight at the beginning of the month, causing the grounding of hundreds of its planes.

So far, 38 airplanes per month of the 737 model are being produced. The production rate of the 787 is five per month. Behind the Alaska Airlines flight crash, Boeing claims to be collaborating transparently with the Federal Aviation Administration (FAA) of the United States. And measures are being taken to reinforce quality, including requiring additional inspections at its factory and at major suppliers.

Boeing manages to reduce net losses by 55.6% in 2023. Source: Unsplash.

Taking this into account and although it remains to be seen how the latest incident will affect the income statement, in terms of the billing The data is positive, 17% more than the previous year, reaching 77,794 million dollars (71,785 million euros), 11,186 million more than in 2022 (+10,322 million euros).

According to the order-book, Throughout last year it increased to 520,000 million dollars (479,040 million euros), which includes 5,600 commercial aircraft. In total, the company delivered 528 aircraft in 2023.

In fact, the commercial aircraft division’s revenue in the fourth quarter increased to $10.5 billion, just over €9.6 billion, driven by increased deliveries and a favorable mix. The 0.4% operating margin also reflects better performance and lower abnormal costs.

Related news:

-They lift the ban on the 737MAX9, but limit its production

– Boeing admits responsibility for the 737 MAX 9 incident

– Which EU airlines are affected by the order on the B737 MAX-9?

Source: Hosteltur

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