Boeing slumps as war, inflation outweigh progress

The results highlight the magnitude of issues facing the planemaker, stretching beyond the 787 delays to include the impact of war, inflation and tougher regulatory scrutiny in the wake of two fatal 737 Max crashes.

NEW YORK: Boeing Co’s shares fell after it burned more cash than Wall Street had expected to start the year, underscoring the strain on the company as it moves closer to resuming 787 Dreamliner deliveries.

The aviation titan recorded negative US$3.57bil (RM15.5bil) adjusted free cash flow in the first quarter and racked up about US$1bil (RM4.36bil) in new accounting charges for its defence division, according to a statement. Boeing is also pausing production of its 777X jetliner through 2023 and postponing the initial delivery of the hulking twin-engine aircraft to 2025.