Boeing Reports $1.44 Billion Quarterly Loss Due to Defense Setbacks and Production Issues

The aerospace giant faces financial strain from fixed-price defense contracts and reduced commercial aircraft deliveries.

Boeing's second-quarter net loss increased nearly ten-fold from the previous year.
The Defense, Space & Security unit recorded significant losses due to cost overruns and technical challenges.
Commercial aircraft deliveries fell by 32%, exacerbating financial difficulties.
The company is transitioning away from fixed-price contracts to mitigate future losses.
CEO Dave Calhoun is stepping down, with Kelly Ortberg set to take over leadership.