(Reuters) – Boeing Co said on Wednesday it expects more than $18 billion in costs related to the grounding of its 737 MAX jets, and indicated it would cut production of its bigger 787 Dreamliner aircraft.

The company had negative free cash flow of $2.67 billion in the quarter ended Dec. 31, compared with a positive free cash flow of $2.45 billion a year earlier.

Core operating loss was $2.53 billion, or $2.33 per share, compared with a profit of $3.87 billion, or $5.48 per share, a year earlier.

Reporting by Ankit Ajmera in Bengaluru, David Shepardson in Washington and Tim Hepher in Seattle; Editing by Saumyadeb Chakrabarty

Source

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

5G adoption to spread like wildfire as demand for remote services surges

The novel coronavirus epidemic will not slow the momentum gained so far in 5G development in China as demand for remote healthcare services and remote work is surging, company executives and industry analysts said. Frank Meng, chairman of the China…

Don’t bet against the U.S. market, it’s likely going higher, BlackRock’s Rieder says

NEW YORK (Reuters) – The U.S. stock market’s two-day tech-led fall last week has revived investor worries about a spiral of selling that could crash the broader market, but Rick Rieder, head of the BlackRock Global Allocation team, does not…

Strong overall demand firing up production in China

Chinese factories have been ramping up as their manufacturing activity last month hit the highest level in almost a decade, shaking off the impact of the novel coronavirus pandemic, Nippon Hoso Kyokai reported on Monday. The report is based on…

China 5-year treasury bond futures close mixed Wednesday

BEIJING — China’s five-year treasury bond futures closed mixed on Wednesday, with the contract for September 2020 closing 0.05 percent higher at 100.63 yuan (about $14.5). The contract for settlement in December 2020 closed 0.04 percent higher at 100.08 yuan.…