Boeing has reported reduced losses compared to the previous year in its first-quarter results, but its revenues and operating cash flows have disappointed investors. In a public letter to employees, David Calhoun, Boeing’s president and CEO, emphasized the company’s ongoing efforts following the January 2024 incident involving Alaska Airlines flight AS1282.
While the net loss decreased to $355 million from $388 million year-on-year, Boeing’s revenues declined from $17.9 billion in Q1 2023 to $16.5 billion in Q1 2024. Operating cash flow also worsened significantly, with an outflow of $3.3 billion compared to $318 million in the previous year’s first quarter.
Calhoun attributed these results to Boeing’s decision to slow down 737 productions to enhance quality, emphasizing the company’s commitment to strengthening its safety and quality management systems for a more stable future.
Despite the challenging financial situation, Calhoun reaffirmed Boeing’s dedication to prioritizing safety and quality above all else. He commended employees for their contributions and expressed confidence in the company’s ability to overcome current challenges.
