Boeing reported a record loss of nearly $ 12 billion last year

US company Boeing reported a loss of more than $ 8 billion in the fourth quarter of last year. This means a loss about eight times higher than in the same period a year ago. As a result of this development, the company recorded a full-year record loss of almost $ 12 billion.

Year-round loss of $ 12 billion

Boeing reported that it recorded a net loss of $ 8.42 billion (€ 6.93 billion) over the past three months last year, or $ 14.65 per share. In the last quarter of the previous year, Boeing's loss reached USD 1.01 billion or USD 1.79 / share. The result for the last quarter led to a full-year loss to a record $ 11.94 billion. After adjusting for extraordinary items, Boeing's loss per share reached $ 15.25. For the same period last year it was 2.33 USD / share. Revenue reached $ 15.3 billion in the fourth quarter of last year, down 15 percent. The results were due to a decrease in the supply of transport aircraft and related services.

The problem is not just a pandemic

However, in addition to the new coronavirus pandemic and the problems associated with the 737 MAX, which was grounded from March 2019 to November 2020 due to two tragic accidents, the high quarterly loss is due to difficulties in the production of the new 777X wide-body aircraft. The company said it was the fourth quarter pre-tax depreciation charge of $ 6.5 billion in connection with the program. Boeing also announced that it now expects the first deliveries of the 777X aircraft until the end of 2023. This is a year later than originally planned. The reason, according to Boeing, is stricter standards for aircraft certification, which is partly due to the problems associated with the 737 MAX aircraft, as well as the pandemic of the new coronavirus. It has crippled global tourism and with it the demand for long-haul aircraft.