Boeing reduces net losses in Q1 2024 as backlog builds

Despite recording a lower than potential 2024 first-quarter net loss of $355 million (compared to $388 million last year) and an increased Q1 order backlog of $448bn, Boeing remains confident that improvements across its manufacturing, quality control and what CEO David Calhoun described as “maybe above all, culture improvement” will continue to safely fulfil demand for a commercial product that remains “incredibly strong”. The company’s operating cash flow rose substantially in the first quarter to $3,362 million (up from $318 million in Q1 2023), with a total revenue of $16.6bn (down 8% year-on-year); primarily reflecting lower commercial aircraft deliveries. The