Boeing Loses $8 Billion in First 9 Months of 2024

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Boeing has reported a staggering net loss of $8 billion for the first nine months of 2024, largely driven by escalating operating costs linked to ongoing strikes and necessary safety changes.

The International Association of Machinists and Aerospace Workers (IAM) initiated a strike on September 13, 2024, which significantly disrupted Boeing’s operations and production timelines.

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In response to these challenges, Boeing announced a 10% reduction in its workforce aimed at addressing inefficiencies and stabilizing its business.

Safety concerns have also plagued the company following an incident where a door blew off an Alaska Airlines flight in January 2024, prompting regulatory scrutiny and the implementation of new safety measures.

Sources

h/t Perfect_Alarm_2141


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