Boeing’s commercial aircraft division posts $697m operating loss

Boeing’s commercial aircraft division posted an operating loss of $697 million in the third quarter, as lower revenue and higher production costs outweighed a slight rise in deliveries. The company reported a total net loss of $116 million.

The division delivered 161 aircraft, one more than in the same period last year, but revenue fell 3 per cent to $10.7 billion. Boeing attributed the loss to less profitable deliveries and higher costs, partly linked to supply-chain problems.

Production of the 737 remains difficult to ramp up. Chief executive Kelly Ortberg has previously said Boeing could not produce wings quickly enough.

Boeing’s defence division, by contrast, recorded a quarterly profit of $492 million. The company said higher deliveries, improved operating performance and the sale of a subsidiary contributed to the result.