BOEING has reported a loss in its fourth quarter results as 737 MAX costs continue to rise.
Revenue for Q4 2019 came in at US$17.9 billion, US$10.4 billion less than the US$28.3 billion achieved in Q4 2018.
The period saw a US$2.2b loss in earnings for operations and a US$1.79 loss per share, which Boeing said primarily reflected the impacts of the 737 MAX grounding.
Despite the losses, during the quarter, the company paid US$1.2 billion of dividends.
“We recognise we have a lot of work to do,” said Boeing President and Chief Executive Officer David Calhoun.
“We are focused on returning the 737 MAX to service safely and restoring the long-standing trust that the Boeing brand represents.
“Safety will underwrite every decision, every action & every step we take as we move forward.”
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Source: traveldaily