Boeing’s quarterly loss shrinks as jet deliveries rebound

SEATTLE: Boeing’s quarterly loss more than halved and was much smaller than analysts expected as the US planemaker ramped up jet deliveries, recovering from a regulatory crisis and a major strike that halted most production last year.

The results highlighted Boeing’s efforts to cautiously increase monthly output this year, following years of quality issues and production delays on its flagship 737 MAX. Increased deliveries mark a pivotal step in Boeing’s effort to rebound from years of production disruptions and crises that piled on debt, increasing the urgency of accelerating output to restore financial stability.

Boeing shares dropped 3.7% in midday trading.

The company’s financial improvements were tempered by its announcement that certification of the new 777-9 and 737 MAX 7 and 10 models will not happen until 2026, another setback for those programs. The company previously said it expected to finish certification by the end of this year.

The company is still developing solutions to address problems with the 737 MAX models’ engine de-icing systems that are stalling certification, which is proving a “little more tricky” than anticipated, Boeing CEO Kelly Ortberg told CNBC.

During the interview, he praised President Donald Trump’s aggressive use of tariffs to hammer out trade deals.