Boeing faced a challenging year in 2024, reporting a staggering annual loss of $11.83 billion, the largest since 2020. The company’s fourth-quarter loss was $3.86 billion, with significant charges in its commercial aircraft and defense units. A nearly two-month machinist strike contributed to delivery delays, causing a cash burn of $3.5 billion in the last quarter and $14.31 billion for the year. Despite these setbacks, CEO Kelly Ortberg outlined a recovery plan focusing on stabilizing output, fixing company culture, and refocusing on core businesses. Boeing’s defense unit saw a 20% revenue drop to $5.4 billion, while its commercial aircraft unit’s revenue fell by 55% to $4.76 billion. The company did not provide financial targets for 2025 but is working on certifying new aircraft models and resuming production. Meanwhile, airlines like American Airlines and Ryanair have had to adjust their schedules due to Boeing’s delivery delays.
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