Boeing reported progress in increasing commercial plane production and stabilizing operations after a quality crisis last year. The company lost $31 million in Q1 2024, a marked improvement from the previous yearâs loss of over $350 million. A poorly installed panel incident and a worker strike had previously hindered production. Nonetheless, Boeing delivered 130 planes in Q1 2024, up from 83 last year, and secured a significant defense contract. The firmâs revenue rose to $19.5 billion, with marked improvements in commercial unit sales, while facing challenges in its defense unit.
Boeing is cautiously optimistic about stabilizing its operations and increasing production despite past setbacks, reflecting better quarterly results than analysts had predicted.
Despite recent crises, Boeing has reported a revenue increase of 18 percent year-over-year, showcasing signs of recovery through improved plane deliveries and new contracts.
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