Boeing, a prominent American aircraft manufacturer, experiences significant financial losses.
American aerospace giant Boeing reported a staggering $6.17 billion loss in the recent quarter, mainly due to strikes by thousands of workers and issues within its defense sector. This loss, covering the timeframe from July to September, was disclosed by Boeing on Wednesday, marking a 1% decrease in revenue to $17.84 billion.
Boeing's CEO, Dave Calhoun, stated his goal bluntly: "My task is simple: to steer this massive vessel back on course and restore Boeing to its rightful position of leadership that we strive for." Assuming the CEO role in early August, Calhoun acknowledged that achieving this goal would require time.
This latest quarterly loss of over six billion dollars represents the second highest since 2018, a consequence of two crashes in 2019 that resulted in a loss of approximately $8.5 billion in the last quarter of 2020.
A strike, commencing mid-September, has been crippling Boeing's production of passenger aircraft. On Wednesday, IAM members were voting on a tentative agreement reached with management over the weekend. Boeing has offered a 35% wage hike over a four-year period and a $7,000 bonus. Previously proposed deals have been rejected by the union or its members. According to IAM, Boeing has not granted any wage increases since 2008. The defense division has also faced unexpected expenses, including those associated with the construction of a military tanker aircraft.
The US aircraft manufacturer, Boeing, experienced a significant challenge in the form of a strike by its workers, which substantially impacted its production of passenger aircraft. Efforts to resolve this issue include a proposed 35% wage hike over four years and a $7,000 bonus, as proposed by Boeing's management.
