Boeing swings to annual loss as 737 MAX costs double – Gulf Today

Boeing swings to annual loss as 737 MAX costs double – Gulf Today

Boeing Co on Wednesday swung to its first annual loss since 1997 on mounting 737 MAX costs and indicated it would again cut production of its bigger 787 Dreamliner aircraft, currently its main source of cash.. Costs related to the global grounding of Boeing's once fast-selling 737 MAX reached $14.6 billion in 2019 and the planemaker warned of another $4 billion in charges in 2020 due to the expense of freezing and slowly restarting the jets' production.. Boeing shares rose 3% in premarket trading, as some analysts had expected an even larger charge for 737 MAX costs.. Boeing reported negative free cash flow of $2.67 billion for the fourth quarter ended Dec. 31, compared with a positive free cash flow of $2.45 billion a year earlier..