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Boeing Co. on Wednesday reported a loss of $5.4 billion in the third quarter, as massive additional costs from delayed certification of its 777X aircraft weighed on its results.
The aviation giant recorded a 30 percent jump in revenue to US$23.3 billion after commercial aircraft deliveries rose compared to last year’s level.
But the performance was marred by a one-time charge of US$4.9 billion on the repeatedly delayed 777X program, which faced a lengthy certification process with US authorities.
Boeing had hoped to begin the next phase of certification flights this year. But company officials said that the company has postponed these matters until 2027 to complete the necessary preparatory analysis.
CEO Kelly Ortberg pointed to the FAA’s approval in October to increase the monthly production rate of the 737 MAX as evidence of the company’s progress.
He also noted that Boeing generated positive free cash flow during the quarter, an indicator Wall Street is closely watching.
But Ortberg said more work is still needed to turn around Boeing after a series of safety problems, including two fatal 737 MAX crashes in 2018 and 2019 that led to more intense FAA scrutiny of new plane certifications.
“Although we are disappointed by the 777X schedule delay, the aircraft continues to perform well in flight tests, and we remain focused on the work ahead of us,” Ortberg said.
Wednesday’s results marked Boeing’s 17th straight quarterly loss, according to Brifing.com, which described the numbers as “a mix of clear progress and lingering challenges.”
Summarying.com said Boeing must “demonstrate that its transformation efforts can translate into consistent profitability.”
Meanwhile, European rival Airbus reported a 14 percent jump in profits to $1.1 billion, its latest strong financial results that highlighted the widening gap between companies in recent years.
However, there is one bright spot for Boeing, which is that the American company regained the lead in terms of orders in 2025, as it benefits from strong trade pressure from US President Donald Trump.
Boeing had 774 net orders through the end of September, compared to 514 for Airbus. Last year, Airbus was far ahead with 648 aircraft, compared to 272 for Boeing.
-Another delay-
Boeing has repeatedly delayed the 777X timeline. Under the latest shift, commercial deliveries will begin in 2027, later than the previous timeframe of 2026.
After deliveries begin, company officials expect the program to act as a cash drain in the first two years as production ramps up, but turn cash flow positive in 2029, Chief Financial Officer Jay Mallavey said on a conference call.
In 2020, Boeing booked a $6.5 billion fee for the 777X, citing the lengthy FAA certification process as a key factor.
Ortberg, in a conference call with financial analysts, described the shift back in 777X testing as a result of new requirements the FAA and Boeing are working on.
– Labor strike –
In a letter to employees, Ortberg said the company’s defensive operation in St. Louis was “effectively implementing its strike contingency plans” after more than 3,000 workers voted Sunday to reject the company’s latest contract offer.
Production at the batting operation is running at “about” the same rate as it was before the shutdown, Ortberg said on the conference call.
Local Boeing officials in St. Louis said the company is working to speed up hiring of replacement workers and welcome back employees who cross the picket line.
Union leaders described Boeing as refusing to negotiate in good faith, while criticizing hiring replacement workers as too risky.
“These are complex, meticulously engineered products — and they cannot replace the skilled and experienced IAM members who have dedicated their careers to this work,” said Tuesday’s statement from the International Association of Machinists and Aerospace Workers District 837.
Boeing shares closed down 4.4 percent.
