Boeing in the red

BoeingThe much-anticipated presentation of Boeing’s 2019 financial results confirms the recent setbacks of the aircraft manufacturer, which presented a net loss of 636 million USD compared to a profit of 10.1 billion USD in 2018.

Throughout history, the aircraft manufacturer has recorded only three loss-making years: 1946, 1995 and 1997. The Boeing crisis which started in March 2019, has caused a decrease in turnover estimated at 76.6 billion USD dropping by 25% compared to 2018. The orders of civil aircraft fell by 44% from 57.4 billion USD in 2018 to 32.2 billion USD in 2019.

With an invoice lately estimated at 18.4 billion USD, the Boeing 737 Max not only aggravates the Boeing situation but also impacts that of insurers. The 18.4 billion USD fees include material damages and bodily injuries following the two plane crashes of Ethiopian Airlines and Lion Air.

The fees also comprise the capital costs of the already produced aircrafts (maintenance and storage), the compensation of the airlines for delivery delays, the loss of earnings of a myriad of subcontractors, the training costs of the crews...

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