Boeing has not been able to deliver as many of its 787 Dreamliners as it wants because the planes roll off the line unable to meet FAA quality specifications.
Hoocoodanode that Boeing's non-union assembly plant in South Carolina would have quality issues?
Boeing Co.said production problems and delivery delays with its 787 Dreamliner jet would cost it another $4.5 billion as the plane maker reported its third annual loss in a row.
The company said it expects to deliver more of its 737 MAX and Dreamliner jets this year and iron out the production problems that have hamstrung its business. While it booked charges at all three of its business units last quarter, it also stopped bleeding cash for the first time in more than two years.
Airlines are continuing to recover from pandemic-driven travel restrictions that left global capacity down 27% last year from 2019 levels. Boeing delivered only half as many jetliners last year as rival Airbus SE but secured more orders and said it plans to boost production further in 2022.
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A series of factory defects and regulatory snags has largely prevented Boeing from handing over the popular wide-body Dreamliner to customers for more than a year. Chief Financial Officer Brian West said Boeing finished 2021 with 110 of the jets in inventory. The planes are worth more than $25 billion.
The latest charge includes $3.5 billion to compensate customers for the delays, with unanticipated production costs now forecast to double to $2 billion over the next two years as Boeing slowed output. Mr. West said the increase in factory costs related to fixing areas surrounding passenger and cargo doors.
Deliveries of the Dreamliner aren’t expected to resume until April at the earliest. The delays have prompted airlines to shuffle their fleet plans or in some cases reduce flight schedules. Boeing is awaiting regulatory approval for pre-delivery inspections.
This is what happens when the finance types take over.
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