Boeing Sinks Amid Strikes and Surging Losses

Boeing posted a $3.8 billion loss in the fourth quarter, compounded by a machinists strike and ongoing issues. Since 2019, Boeing has lost over $35 billion following fatal crashes. Financial results included extensive charges from job cuts and halted government programs. Production disruptions impacted delivery schedules.

Boeing reported a staggering $3.8 billion loss for the fourth quarter, a result driven by a prolonged machinists strike and persisting operational challenges. The aerospace giant has experienced more than $35 billion in losses since 2019, largely due to two catastrophic Max jet crashes.

The company's financial disclosures align with prior public statements, acknowledging hefty charges close to $3 billion from workforce reductions, work stoppages, and setbacks in government projects. Analysts had predicted lower losses, with Wall Street foreseeing a lesser hit per share.

This dismal quarter marks a difficult year-end for Boeing, largely impeded by a machinists strike at key factories in Washington State affecting their flagship jets. The strike, which interrupted aircraft deliveries, concluded after over seven weeks, with Boeing agreeing to enhance wages and benefits.

(With inputs from agencies.)