Boeing Faces $11.8 Billion Annual Loss While Outlining Recovery Efforts
CEO Kelly Ortberg emphasizes production stabilization and cultural reform as the company works to regain financial footing and address delivery delays.
- Boeing reported a $3.86 billion loss in Q4 2024, contributing to its largest annual loss since 2020 at $11.83 billion, driven by production delays, strikes, and defense program overruns.
- The company burned $14.31 billion in cash in 2024, with CFO Brian West projecting positive cash flow in the second half of 2025.
- CEO Kelly Ortberg outlined a four-part recovery plan focusing on stabilizing production, addressing cultural issues, and investing in core businesses while streamlining non-core operations.
- Production of Boeing’s 737 MAX resumed in December, with plans to increase output pending FAA approval, while certification efforts continue for other models like the 777X and MAX 7/10.
- Delivery delays have impacted key customers, including American Airlines and Ryanair, forcing schedule adjustments and reduced passenger traffic projections.
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