Business / Boeing to cut 787 & 777 jet production as sales fall by 25% in Q2

Boeing said it will cut production of 787 and 777 jet programmes and postpone ramp up plans on the 737 MAX due to fall in sales by 25% in the second quarter. Sales fell to $11.81 billion from $15.75 billion a year earlier. Boeing reported net loss of $2.40 billion in the second quarter, against $2.94 billion a year earlier.

Deccan Herald : Jul 30, 2020, 08:43 AM
New Delhi: Boeing said on Wednesday it would cut production of its marquee 787 and 777 jet programs and delay ramp up plans on the 737 MAX, as quarterly sales tumbled 25% due to the fallout from the Covid-19 pandemic.

Net loss narrowed to $2.40 billion in the second quarter ended June 30, from $2.94 billion a year earlier, when the company reported a record loss on charges related to the 737 MAX grounding.

The company said sales fell to $11.81 billion from $15.75 billion.