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Boeing posts second consecutive quarterly profit driven by its 737 MAX

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Boeing reported a small adjusted profit in the third quarter, helped by an acceleration of the deliveries of its 737 MAX jets in a context of recovery in global air transport, but the company did note charges in its 787 and Starliner programs.

The 737 MAX and 787 Dreamliner are integral to the US aircraft manufacturer’s ability to recoup billions of dollars in lost sales from the pandemic and overcome a safety scandal caused by two fatal accidents.

On the 787 wide-body aircraft program, Boeing said it incurred abnormal costs of about $ 1 billion, or $ 183 million in the quarter, for inspections and repairs of structural defects embedded in planes over the past two years, confirming for the first time figures Reuters reported. in February.

Boeing too made a $ 185 million charge on his Starliner astronaut capsule, which was long delayed and is being developed under NASA’s Commercial Crew Program, due to delays and repairs to stuck fuel valves that took the spacecraft out of service after its last flight attempt.

The company reported a structural operating profit of $ 59 million in the quarter, compared to a loss of $ 754 million in the prior year.

Revenue increased to about $ 15.3 billion, driven by 737 MAX deliveries and growth in the services unit amid the recovery in the air travel market.

Boeing It said it was currently building 19 737 MAX planes per month, up from 16 in the last quarter.

It also said it has been producing about two jets a month at its South Carolina factory with plans to return to an already slow rate of five a month at some point in the future.

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