Boeing's Record Losses: Company Lost Nearly 12 Billion Dollars.

Boeing reported a record loss of $11.83 billion

Boeing announced a large annual loss of 11.83 billion dollars, the largest loss since 2020. This is due to problems faced by the company in its commercial and defense divisions, as well as the aftermath of a workers' strike at a factory on the U.S. West Coast.

According to Reuters, this loss indicates the difficulties faced by CEO Kelly Ortberg, who is attempting to address the company's issues in the aerospace industry. Boeing is lagging behind its competitor Airbus in the race for deliveries and is under scrutiny from regulators and clients following a series of missteps.

Ortberg stated that the company has made progress in updating its production lines following a devastating crash in 2024 that undermined confidence in the safety of Boeing aircraft.

The company's revenue in the fourth quarter fell by 31% to 15.24 billion dollars compared to the previous year.

Expenses in 2024 amounted to 14.3 billion dollars, which is a negative figure compared to a positive cash flow of 4.43 billion dollars in 2023.