SEATTLE, Tuesday, April 30, 2024 – Boeing Co. reported a net loss of $355 million for the first quarter of 2024, a significant financial setback amid ongoing scrutiny surrounding a recent mid-flight cabin door blowout incident involving a 737 MAX aircraft.1
This loss comes in stark contrast to the company’s profit of $1.2 billion reported for the same period in 2023. The decline is attributed, in part, to a slowdown in production of the 737 MAX jetliner.
The Federal Aviation Administration (FAA) blocked further production of the 737 MAX 9 variant following the Alaska Airlines incident in January 2024, citing concerns about the configuration of the emergency exit door.
This has disrupted Boeing’s production schedule and caused delays in aircraft deliveries.
The company is facing investigations from the FAA and the National Transportation Safety Board (NTSB) regarding the door blowout.
The financial impact of the slowdown is expected to continue in the coming quarters.
Boeing is currently working on modifications to the 737 MAX 9 door system and hopes to secure FAA approval to resume production soon.
However, the timeline for this remains uncertain.
- washingtonpost.com: https://www.washingtonpost.com/business/2024/04/24/boeing-earnings/[↩]
