{"id":438635,"date":"2022-04-27T21:47:10","date_gmt":"2022-04-27T18:47:10","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/boeing-shares-plunge-as-technical-problems-persist\/"},"modified":"2022-04-27T21:47:10","modified_gmt":"2022-04-27T18:47:10","slug":"boeing-shares-plunge-as-technical-problems-persist","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/boeing-shares-plunge-as-technical-problems-persist\/","title":{"rendered":"#Boeing shares plunge as technical problems persist"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2af5c1e5a52\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2af5c1e5a52\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/boeing-shares-plunge-as-technical-problems-persist\/#%E2%80%9CBoeing_shares_plunge_as_technical_problems_persist%E2%80%9D\" >&#8220;Boeing shares plunge as technical problems persist&#8221;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/boeing-shares-plunge-as-technical-problems-persist\/#Array_of_charges\" >Array of charges<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CBoeing_shares_plunge_as_technical_problems_persist%E2%80%9D\"><\/span>&#8220;Boeing shares plunge as technical problems persist&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>Boeing\u00a0unveiled $2.7 billion in charges and added costs across its aircraft portfolio on Wednesday, and expressed doubts over hitting jet delivery targets as technical problems, inflation and supplier risks cloud its path toward recovery.<\/p>\n<p>Shares of the US planemaker\u00a0fell to a\u00a0nearly 1-1\/2 year low after it posted a quarterly loss and\u00a0announced it was halting 777X production through 2023 due to a fresh delay in its entry into service after certification problems and weak demand.<\/p>\n<p>\u201cAnother dreadful set of results,\u201d Agency Partners analyst Nick Cunningham said in a client note, adding that a \u201c<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a> sense of disarray continues.\u201d<\/p>\n<p>On the plus side,\u00a0Boeing\u00a0said it submitted a certification plan to US air-safety regulators in a step toward resuming deliveries of its 787 Dreamliner, halted for nearly a year by inspections and repairs in a\u00a0separate\u00a0industrial headache costing about $5.5 billion.\u00a0<\/p>\n<p>The\u00a0twin-aisled Dreamliner, along with\u00a0its cash cow 737 MAX, are vital to\u00a0Boeing\u2019s ability to emerge from overl<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ing coronavirus and jet-safety crises, a path steepened by war in Ukraine.<\/p>\n<p>Boeing\u00a0did not specify when\u00a0Boeing\u00a0would resume Dreamliner deliveries. Reuters reported last week\u00a0Boeing\u00a0had advised key airlines and parts suppliers that the deliveries would resume in the second half of this year.\u00a0<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/boeing-earnings3.jpg?w=1024\" alt=\"Boeing logo\" class=\"wp-image-22056374\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/boeing-earnings3.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/boeing-earnings3.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/boeing-earnings3.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Boeing\u2019s first-quarter revenue fell to $13.99 billion from $15.22 billion.<\/figcaption><figcaption><span class=\"credit\">AP<\/span><\/figcaption><\/figure>\n<p>Boeing\u00a0also confirmed a delay in handing over the first 777X jet to 2025, from the previous target of late 2023, but said it remained confident in the program. <\/p>\n<p>\u201cWe\u2019ve got to give ourselves the time and freedom to get this right,\u201d Calhoun told analysts.<\/p>\n<aside class=\"single__inline-module alignright\">\n    <\/aside>\n<p>Calhoun said the halt in 777-9 production\u00a0\u2013 which will add $1.5 billionin fresh costs \u2014\u00a0was based on a longer safety certification timeline, a risk reported by Reuters in February.<\/p>\n<p>He said the production pause would help minimize inventory and the number of jets requiring retrofits, while it adds to freighter capacity with a newly launched cargo spinoff of the 777X, the world\u2019s largest twin-engine passenger plane.\u00a0<\/p>\n<p>\u201cWe are concerned that this delay (in 777X delivery) may allow airlines to cancel without penalty,\u201d Citi Research analyst Charles Armitage said.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Array_of_charges\"><\/span>Array of charges<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Boeing\u00a0is facing an increasingly high-stakes battle to win certification of the largest variant of the 737 MAX before a new safety standard on cockpit alerts takes effect at year-end.<\/p>\n<p>The deadline for changes was introduced as part of broader regulatory reforms at the Federal Aviation Administration following fatal 737 MAX crashes in 2018 and 2019.\u00a0<\/p>\n<p>\u201cThe intent of that legislation was never to stop the derivative product line with respect to the MAX,\u201d Calhoun said. \u201cSo I believe our chances are good with respect to getting legislative relief. It doesn\u2019t mean we\u2019ll get them. And if we don\u2019t, it\u2019s a problem.\u201d<\/p>\n<p>Boeing\u00a0reiterated it expects its 737 MAX production rate to reach 31 planes per month in the second quarter, a slight delay from what some analysts expected, though industry sources have not ruled out a slip.\u00a0It has 320 of the jets in inventory.<\/p>\n<p>Boeing\u00a0said it was\u00a0on track to return to positive cash flow in 2022\u00a0with no need for an im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>te capital raise\u00a0as it ramps up deliveries of the cash-cow narrow-body, though it faces risks in the crucial China market even as <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">travel<\/a> rebounds from the pandemic.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/boeing-earnings2-1.jpg?w=1024\" alt=\"Boeing sign\" class=\"wp-image-22056430\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/boeing-earnings2-1.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/boeing-earnings2-1.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/boeing-earnings2-1.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Boeing said it was on track to return to positive cash flow in 2022.<\/figcaption><figcaption><span class=\"credit\">AFP via Getty Images<\/span><\/figcaption><\/figure>\n<p>\u201cTraffic is returning, and it\u2019s returning in a pretty big way,\u201d Calhoun said.<\/p>\n<p>It reported a quarterly core loss per share of $2.75, compared with a loss of $1.53 per share a year ago. Revenue fell to $13.99 billion from $15.22 billion.<\/p>\n<p>Like other aerospace\u00a0companies,\u00a0Boeing\u00a0is grappling with supply chain\u00a0logjams, inflation and fallout from war in Ukraine.<\/p>\n<p>\u201cInflation continues to take a hard run at everything we do,\u201d Calhoun told analysts.<\/p>\n<p>It booked a $660 million charge in the quarter on its VC-25B \u2013 commonly known as Air Force One \u2013 due to higher supplier costs and technical problems and schedule delays.<\/p>\n<p>\u201cAir Force One, I\u2019m just going to call a very unique moment, a very unique negotiation, a very unique set of risks that\u00a0Boeing\u00a0probably shouldn\u2019t have taken,\u201d Calhoun said. \u201cBut we are where we are, and we\u2019re going to deliver great airplanes. And we\u2019re going to recognize the costs associated with it.\u201d<\/p>\n<p>Boeing\u00a0also recorded\u00a0$367 million in charges for its T-7A Red Hawk trainer jet due to inflation, supply chain issues and\u00a0pandemic impacts.<\/p>\n<p>And it booked\u00a0pre-tax charges of $212 million due to the war in Ukraine and international sanctions against Russia, which pose risks to materials supply and aircraft orders.\u00a0<\/p>\n<p>Asked whether\u00a0Boeing\u00a0would hit a 500-aircraft delivery target for the 737 MAX this year, Chief Financial Officer Brian West said, \u201cwe probably won\u2019t get quite all the way there.\u201d\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/04\/27\/boeing-shares-plunge-as-technical-problems-persist\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Boeing shares plunge as technical problems persist&#8221; Boeing\u00a0unveiled $2.7 billion in charges and added costs across its aircraft portfolio on Wednesday, and expressed doubts over hitting jet delivery targets as technical problems, inflation and supplier risks cloud its path toward recovery. Shares of the US planemaker\u00a0fell to a\u00a0nearly 1-1\/2 year low after it posted a&#8230;<\/p>\n","protected":false},"author":1,"featured_media":438636,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/boeing.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[128553,76145,76146,70237,70360],"class_list":["post-438635","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-4-27-22","tag-boeing","tag-boeing-737-max","tag-corporate-earnings","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/438635","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=438635"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/438635\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/438636"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=438635"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=438635"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=438635"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}