Boeing's 777X Saga: Delays and Financial Turbulence
Facing prolonged delays, Boeing has deferred the first delivery of the 777X to 2027, incurring a $5 billion charge. This follows major setbacks and a history of quality issues with their aircraft. Despite challenges, Boeing's revenues rose, delivering 55 jets in September, the highest since 2018.
Boeing has announced a further delay in the delivery of its highly anticipated 777X jets, pushing the timeline to 2027. The delay marks a continuation of challenges for the aerospace giant, resulting in a significant $5 billion charge due to penalties for late deliveries.
Initially expected to be in the market by 2020, the 777X program has faced numerous hurdles since its launch in 2013. CEO Kelly Ortberg acknowledged the company's struggles with certification, attributing the delays to a 'mountain of work' that still needs completion, although no new technical issues have emerged.
Despite these setbacks, Boeing showed resilience with a notable increase in jet deliveries for September and reported a revenue increase of 30% in the last quarter, surpassing Wall Street expectations. The company's recent push approved by the U.S. Federal Aviation Administration to increase 737 MAX production indicates a strategic pivot towards overcoming past hurdles.
Google News