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Boeing reports $537M loss in 1st quarter of 2021
2021 is 'key inflection point' for industry as COVID-19 vaccine distribution grows, says company's CEO.
Boeing reports $537M loss in 1st quarter of 2021

Boeing on Wednesday reported a $537 million loss in the first quarter of 2021, but the company said it expects a "robust recovery" this year.

"While the impacts of COVID-19 continue to challenge the overall market environment, we view 2021 as a key inflection point for our industry as vaccine distribution accelerates and we work together across government and industry to help enable a robust recovery," Boeing President and CEO Dave Calhoun said.

Calhoun underlined that they continue to work with global regulators and customers on the safe return to service of the troubled 737 MAX worldwide.

Since the US Federal Aviation Administration's approval to resume operations in November, the company delivered over 85 737 MAX aircraft to customers around the globe, while 21 airlines have returned their airplanes to service which "safely flown more than 26,000 revenue flights totaling more than 58,500 flight hours."

Boeing's top-selling aircraft model was grounded worldwide after two crashes that cost hundreds of lives and hit the company billions of dollars financially.

In March, 2019, Ethiopian Airlines flight ET-302 crashed shortly after taking off from an Addis Ababa airport, killing all 157 on board.

The model was also involved in an October 2018 crash outside of Jakarta, Indonesia. All 189 people aboard Lion Air flight JT610 were killed.

Image Credit: © AA


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