Boeing’s revenue slumps 2% as company works through ‘challenging time’

Darren Wood
By Darren Wood April 24, 2019 13:32

Boeing’s revenue slumps 2% as company works through ‘challenging time’

The recent grounding of Boeing’s 737 MAX fleet, following two deadly crashes in less than six months, looks to be the main catalyst in the aviation giant posting a profit slump of 2% in its first quarter 2019 results.

Boeing reported revenue of $22.9 billion, down from $23.3 billion in the corresponding period last year.

Dennis Muilenburg, Boeing’s chief executive, said in a statement that the company was working through a “challenging time.”

“Across the company, we are focused on safety, returning the 737 Max to service, and earning and re-earning the trust and confidence of customers, regulators and the flying public,” he said.

“As we work through this challenging time for our customers, stakeholders and the company, our attention remains on driving excellence in quality and performance and running a healthy sustained growth business built on strong, long-term fundamentals.”

There was no word from the company about the fate of the Boeing 737 MAX fleet and when it would fly again.

Darren Wood
By Darren Wood April 24, 2019 13:32