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Quarterly loss for Boeing

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Quarterly loss for Boeing

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The US planemaker Boeing has posted a larger-than-expected quarterly loss of just over one billion euros.

It blamed costs related to its long-delayed 787 Dreamliner and the revamped version of its 747 jumbo-jet cargo aircraft. At the same time Boeing reaffirmed that the 787, which uses revolutionary composite materials and construction methods remains on track to fly this year. Boeing said its revenue was just over eleven billion euros. That was nine percent up on the same period a year ago, which was impacted by a strike. But it was still far short of what analysts had expected. The loss, combined with a lowered earnings outlook for this year, sent its shares down. Boeing’s weapons division has also been hit by sweeping government budget cuts.