Boeing reports sixth-consecutive quarterly loss

VIDEO: Boeing reports sixth-consecutive quarterly loss

CHICAGO (WCSC/AP) - Boeing posted another loss as the pandemic continues to undercut demand for new planes and the company deals with more problems around its 737 Max jetliner.

Boeing Co. said Wednesday it lost $537 million in the first quarter.

That’s less than the company lost a year ago but still more than analysts expected.

Since the quarter ended, Boeing has suffered a new setback with its 737 Max jetliners, more than 100 of which are now parked again because of issues around electrical grounding of some parts.

“While the global pandemic continues to challenge the overall market environment, we view 2021 as a key inflection point for our industry as vaccine distribution accelerates and we work together across government and industry to help enable a robust recovery,” CEO David Calhoun said. “Our balanced commercial, defense, space and services portfolio continues to provide critical stability for our business – and we remain focused on safety, quality and integrity as we deliver on our customer commitments.”

The company says it sold more 737 jets but fewer 787 Dreamliners.

Boeing was also recently recognized with the Energy Star Partner of the Year Award, for the eleventh year in a row, for its energy conservation practices. In South Carolina, Boeing has about ten acres of solar panels on the roof of the Final Assembly building in North Charleston. Boeing South Carolina is also a zero waste to landfill site.

Copyright 2021 WCSC. The Associated Press contributed to this report. All rights reserved.