Boeing's losses have increased more than 70 times since the beginning of the year, exceeding $4 billion - the company has again lowered its forecast for the production of aircraft

American aircraft manufacturer Boeing reported financial results for the third quarter of 2022. It is hard to call them good.

Here's What We Know

Boeing's revenue for the reported period was $15.956 billion. This is 4% higher year-on-year, but about $2.25 billion less than the plan. That said, the division responsible for commercial airplanes did relatively well. It managed to supply 112 aircraft, due to which the income in annual terms increased by 40% - up to $6.263 billion. During the basic period the company supplied only 85 aircraft.

Net loss of the American company compared to the third quarter of 2021 increased approximately threefold to $3.275 billion from $109 million. Boeing started the year 2022 with a net loss of $59 million. Since the beginning of the year it has grown almost 73 times - up to $4.3 billion. The total revenue of the manufacturer since January 2022 is $46.628 billion.

Despite the success of its commercial aircraft division, the company had to lower its production forecasts for the aircrafts. Now Boeing plans to produce 375 airliners for the year. It is already the second adjustment towards reduction - in the middle of summer the manufacturer decreased the forecast from 500 to 400 planes. The key reason for such decision was problems with components supply.

Source: Simple Flying

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