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Caught in the setbacks of his 737 Max, banned from flying after a double deadly crash, Boeing posted as expected very bad numbers in the second quarter.
It is even the worst results in its history. They fell just before the opening of the New York Stock Exchange. Nearly $ 3 billion loss in the second quarter.
In its history, Boeing has very rarely posted heavy losses. The figures announced this Wednesday, July 24 are record, and they have of course resulted in a fall of the title.
A turnover in free fall
Boeing loses $ 2.94 billion in net loss in the second quarter .
Its turnover is eroding by 35%. Involved above all, the 737 Max that are no longer delivered to companies, but ninety of which still come out of the factory.
Boeing is therefore earning less revenue, while accumulating the costs of storing devices grounded by the authorities since March.
►Also read: Boeing Provides $ 5 Billion for the 737 Max Crisis
This Wednesday, CEO Dennis Muilenburg no longer excludes to suspend production. Indeed, the eventual resumption of flights is not expected before 2020.
A few days ago, the group had estimated the charges for the second quarter at nearly $ 5 billion .
An envelope for the relatives of the victims
A large portion will be used to compensate the private airlines of the 737 max in the coming years.
An envelope has also been provisioned for relatives of the victims of the double crash, regardless of any legal process, which in the long run could also be very expensive for the group.
With a clear focus on our values, we're delivering for our customers, working to safely return the 737 MAX to service and capturing new opportunities. https://t.co/4Xkw1NESat
Dennis A. Muilenburg (@BoeingCEO) July 24, 2019