Boeing sinks to loss on charges related to 787 delays

New Delhi: Boeing Co said on Wednesday it incurred $4.5 billion charges in the fourth quarter on its sidelined 787 program, obscuring the U.S. planemaker’s long-awaited return to positive cash flow fueled by rebounding 737 MAX deliveries.

The planemaker sank to a loss after two quarters of profits because of the charge. Shares in Boeing fell 2.6% as the array of charges and uncertainty over the 787 program dwarfed a surprise return to positive free cash flow and plans to increase production on the 737 and 777.

The quarterly results underscore the challenges Boeing faces as it seeks to rebound from the coronavirus pandemic and 737 MAX safety crises, while navigating industrial and regulatory currents on its bigger 787 and 777X flagship.

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