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Boeing closed the third quarter with a net loss of over $5.3 billion. Although
large orders were received from companies including Turkish Airlines and
Norwegian, the costs of the delayed 777X program were skyrocketing.
 
The American aircraft manufacturer recorded revenue growth to $23.3 billion.
161 new airliners were sold, of which 50 are going to Turkish Airlines and 30
to Norwegian.
 
Deliveries reached 160 aircraft, the highest number since 2018. This was
partly due to the fact that production of the 737 MAX is stable at 38 units
per month and is gradually ramping up to 42.
 
The development of the Boeing 777X, which is intended to replace the current
generation of 777-200s and -300s, has been delayed for years. The first
delivery is scheduled for 2027, but the US Federal Aviation Administration
(FAA) still needs to approve the type for service.
 
The delay in the 777X program is costing Boeing a fortune. In the third
quarter, it resulted in a $4.9 billion cost to Boeing.
 
CEO Kelly Ortberg calls the delay "disappointing," but says Boeing remains
focused on the test program and rebuilding the confidence of airlines that
have ordered the model and have been waiting for it for years.
 
Major customers for the Boeing 777X, with the 777-9 being developed first,
include Emirates, Qatar Airways, Lufthansa, Cathay Pacific, Singapore
Airlines, and British Airways. Boeing has now sold a total of 565 777-8s, 8Fs,
and 9s.

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