Boeing reports $11.8-billion annual loss after crisis-ridden year
Posted: Jan 28, 2025
- Boeing (BA.N) reported an annual loss of $11.83 billion, its largest since 2020
- CEO Kelly Ortberg faces challenges in turning around the company as it competes with rival Airbus (AIR.PA)
- Boeing's defense, space, and security business lost $5.41 billion in 2024
- Boeing aims to generate $10 billion in annual free cash flow by 2025 or 2026, a goal that may be delayed
- The company reported a cash burn of $4.1 billion for the quarter, slightly lower than expected
- Boeing is working to stabilize production, fix existing airplanes, and smooth its supply chain
- Quarterly revenue fell 31% to $15.24 billion, missing expectations
- Boeing has faced challenges since 2019, including fatal crashes of its 737 MAX jet
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