Fox Business Briefs: Boeing loses 150 orders for its 737 Max in March as airlines respond to the sharp drop in air travel due to the COVID-19 pandemic.
Boeing posted a loss in the first quarter as the COVID-19 pandemic and the grounding of the 737 MAX significantly impacted businesses
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The Chicago-based aerospace giant lost $641 million, or $1.11 per share, as revenue fell 26 percent to $16.9 billion. The adjusted loss of $1.70 a share fell short of the $1.61 loss that analysts surveyed by Refintiiv were expecting.
“The COVID-19 pandemic is affecting every aspect of our business, including airline customer demand, production continuity and supply-chain stability,” CEO David Calhoun said in a statement. He added Boeing is “progressing toward the safe return to service of the 737 MAX.”
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