Boeing (BA.N) on Wednesday cut its 737 delivery forecast for this year due to quality issues at supplier Spirit AeroSystems (SPR.N), a temporary setback to the planemaker that is looking to recover from its own set of crises.
A Boeing 737 MAX-10 performs a flying display at the 54th International Paris Airshow at Le Bourget Airport near Paris, France, June 20, 2023. REUTERS/Benoit Tessier/File PhotoThe company was aiming to deliver 400 to 450 737 jets in 2023 but was forced to temper that goal to 375 to 400 jets after two separate quality issues at Spirit, which makes fuselages for the cash-cow narrowbody jets.
Meanwhile, the company's ailing defense business continues to struggle with cost overruns on fixed price contracts due to inflationary pressures. The company delivered 70 737 aircraft in the third quarter, down 20%. Planemakers get a bulk of the payment when they handover jets, so delivery numbers are closely watched.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Boeing cuts 737 Max delivery forecast as production issues dent third-quarter resultsBoeing also posted a wider-than-expected loss for the third quarter.
Read more »
Production woes plague earnings for Boeing, RTX and Spirit AeroProduction woes plague earnings for Boeing, RTX and Spirit Aero
Read more »
Solon police looking for 4 women accused of stealing from Solon Spirit HalloweenSolon police are investigating a theft at Spirit Halloween Wednesday of approximately 50 Halloween costume items.
Read more »
Mom keeps Halloween spirit alive for son with terminal illnessChristopher and his twin sister were born prematurely.
Read more »
Stocks making the biggest moves midday: Chevron, Okta, Walgreens, Spirit AeroSystems and moreThese are the stocks posting the largest moves in midday trading.
Read more »
Rangers fans share their team spiritAs the Texas Rangers advance in the postseason, NBC 5 viewers have been sending in photos showing their team spirit.
Read more »