Boeing reports Q1 loss amid ongoing crisis
Troubled aviation giant Boeing reported a first-quarter loss of US$343 million on Wednesday, reflecting recent safety troubles that have slowed production and deliveries. The US plane maker said it tempered production in the 737 programme following a near-catastrophic incident on an Alaska Airlines jet in January that sparked heavy scrutiny from Washington and Boeing's airline customers. The first-quarter loss, which was somewhat smaller than analysts expected, compared with a loss of US$414 million in the year-ago period. Revenues fell 7.5 percent to US$16.6 billion. Despite the loss, shares rallied after the company's CEO confirmed Boeing would meet key financial targets by the end of 2026. Boeing's commercial airplane business suffered an operating loss as the company pointed to unspecified "customer considerations" following a temporary grounding of the 737 MAX 9. Boeing's defence space and security division reported operating profitability in spite of losses on "certain fixed-price development programmes", the company said in a press release. (AP)