"Boeing reveals a $500 million loss for Q1 despite 77 deliveries"

" \n Boeing\u2019s results for the first quarter of 2021 have been released today, and the picture is one of slow but steady improvement. The loss was over half a billion, but was less than the same quarter in 2020. \n \n\n \n With the MAX approved to fly in many jurisdictions, Boeing\u2019s deliveries accelerated by 54% to a total of 77 aircraft across the quarter. \n \n\n \n <a href=\"http:\/\/www.pinterest.com\/pin\/create\/bookmarklet\/?url=https%3A%2F%2Fsimpleflying.com%2Fboeing-500-million-q1-loss%2F&media=data%3Aimage%2Fsvg%2Bxml%2C%253Csvg%2520xmlns%3D%27http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%27%2520viewBox%3D%270%25200%25201000%2520667%27%253E%253C%2Fsvg%253E&description=Buoyed%20by%20more%20MAX%20deliveries%2C%20Boeing%E2%80%99s%20quarter%20showed%20a%20slight%20improvement.%20Photo%3A%20Getty%20Images&is_video=false\" target=\"_blank\" rel=\"noreferrer noopener\"> Buoyed by more MAX deliveries, Boeing\u2019s quarter showed a slight improvement. Photo: Getty Images \n \n\n \n Smaller losses, steady revenue \n \n\n \n Boeing\u2019s first quarter results are out and there\u2019s definitely some improvement starting to show. Although its total revenue was down 10% over Q1 2020, it still brought in $15.2 billion in the first three months of the year. The company attributed this to the lower 787 deliveries, although noted it was offset by the successful uptick in 737 deliveries. \n \n\n \n Overall, Boeing recorded a net loss of $561 million, a smidge better than its loss in 2020. Q1 last year saw a loss of $641 million. Today\u2019s loss is a shadow of the huge loss posted in Q4 2020, which saw Boeing fall to more than negative $8 billion, and\u00a0 $12 billion \u00a0over the year. \n \n\n \n Chief Executive Officer Dave Calhoun commented, \n \n\n \n \u201cI am proud of the progress our global team made across our business in the first quarter as we continued to transform our enterprise, strengthen our safety processes, and sustain critical investments for our future. \u201cWhile the global pandemic continues to challenge the overall market environment, we view 2021 as a key inflection point for our industry as vaccine distribution accelerates and we work together across government and industry to help enable a robust recovery. \u201cOur balanced commercial, defense, space and services portfolio continues to provide critical stability for our business \u2013 and we remain focused on safety, quality and integrity as we deliver on our customer commitments.\u201d \n \n\n \n <a href=\"http:\/\/www.pinterest.com\/pin\/create\/bookmarklet\/?url=https%3A%2F%2Fsimpleflying.com%2Fboeing-500-million-q1-loss%2F&media=data%3Aimage%2Fsvg%2Bxml%2C%253Csvg%2520xmlns%3D%27http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%27%2520viewBox%3D%270%25200%25201000%2520594%27%253E%253C%2Fsvg%253E&description=The%20last%20four%20747s%20were%20sold%20to%20Atlas%20Air.%20Photo%3A%20Atlas%20Air&is_video=false\" target=\"_blank\" rel=\"noreferrer noopener\"> The last four 747s were sold to Atlas Air. Photo: Atlas Air \n \n\n \n On the positive side, the company notes that it has increased its revolving credit facility by more than $5 billion in the quarter, to a total of $14.8 billion. This facility remains undrawn. The planemaker also secured orders in the quarter for both the MAX, for 148 aircraft, and for\u00a0four 747F from Atlas Air. \n \n\n \n Deliveries up, spurred by the MAX \n \n\n \n Commercial aircraft deliveries were up 54% in the quarter, with 77 aircraft delivered. That compares to just 50 in the same quarter last year. Boeing said that, since the FAA ungrounded the MAX, a total of 85 of its latest generation 737s have been delivered to customers. A total of 31 airlines have returned their fleet to service. \n \n\n \n <a href=\"http:\/\/www.pinterest.com\/pin\/create\/bookmarklet\/?url=https%3A%2F%2Fsimpleflying.com%2Fboeing-500-million-q1-loss%2F&media=data%3Aimage%2Fsvg%2Bxml%2C%253Csvg%2520xmlns%3D%27http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%27%2520viewBox%3D%270%25200%25201000%2520665%27%253E%253C%2Fsvg%253E&description=Looking%20ahead%2C%20the%20planemaker%20has%20plans%20to%20start%20ramping%20up%20output%20of%20its%20737%20MAX%20in%20early%202022.%20Photo%3A%20Boeing&is_video=false\" target=\"_blank\" rel=\"noreferrer noopener\"> Looking ahead, the planemaker has plans to start ramping up output of its 737 MAX in early 2022. Photo: Boeing \n \n\n \n With a backlog still to clear, the manufacturer plans to continue producing the MAX at a relatively low rate through 2021. However, it says that, in early 2022, it plans to increase its output rate to 31 planes per month, with further increases going forward in line with market demand. \n \n\n \n As well as the MAX, the planemaker has successfully\u00a0resumed deliveries of its 787 Dreamliner. Just two Dreamliners were delivered to customers during the quarter, along with six 777s, five 767s, and just one 747. The 737 MAX made up the bulk of the quarter\u2019s deliveries, with 63 aircraft arriving with customers. \n \n\n \n In terms of its backlog, the order book\u00a0at Boeing\u00a0remains relatively stable. In Q1 of 2020, it stood at $281 billion of aircraft orders; this quarter closed with $282 billion in the backlog. \n "

"Boeing reveals a $500 million loss for Q1 despite 77 deliveries"

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