NEW YORK —Boeing, absorbing billions in write-downs related to two of its newest commercial jets and a military fuel tanker, reported its first quarterly loss in nearly seven years.
Yet revenue for the Chicago aerospace giant rose 1 percent to $24.8 billion, and company shares rose steadily before the opening bell Wednesday.
Charges totaling $3 billion before taxes, led to Boeing’s first down quarter since the third quarter of 2009.
Boeing also signaled that it might end production of its iconic 747. The double-deck jet revolutionized air travel by making it more affordable for the masses. But its four engines and massive size are now negatives – it burns too much fuel and airlines struggle to fill 400 or more seats.
Copy the Story LinkSend questions/comments to the editors.
Success. Please wait for the page to reload. If the page does not reload within 5 seconds, please refresh the page.
Enter your email and password to access comments.
Hi, to comment on stories you must . This profile is in addition to your subscription and website login.
Already have a commenting profile? .
Invalid username/password.
Please check your email to confirm and complete your registration.
Only subscribers are eligible to post comments. Please subscribe or login first for digital access. Here’s why.
Use the form below to reset your password. When you've submitted your account email, we will send an email with a reset code.