Boeing reported an annual loss of $11.83 billion, the largest since 2020, driven by troubles in both its commercial and defense divisions, compounded by the effects of a significant strike. CEO Kelly Ortberg is navigating these challenges while competing with Airbus and addressing regulatory scrutiny. Despite a slight increase in share prices, Boeing's quarterly revenue dropped 31% to $15.24 billion, with disappointing defense program costs contributing to a loss of $3.86 billion. Ortberg emphasized a commitment to restoring stability and improving company culture as part of a four-part turnaround plan.
Boeing faces a significant annual loss of $11.83bn, underscoring its struggles against rivals and the impact of prior safety concerns in the aviation sector.
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