After a rocky few years, Boeing appears to be turning a corner.
The plane manufacturer has just announced reduced quarterly losses following its most significant delivery of airplanes since 2018, according to CNBC.
The company lost $176 million in the three months ending June 30. But that’s down from $1.09 billion in losses from one year earlier. At the same time, Boeing’s revenue increased a substantial 35 percent to $22.75 billion from $16.87 billion.
The upbeat news follows a string of years marked by crisis and setback including two fatal crashes of its Boeing MAX, a door plug that fell off an Alaska Airlines flight, government investigations and a strike by 33,000 machinists last summer.
However, in late 2024 the company expressed optimism about the future and was especially bullish about what 2025 held in store following a significant order from a supplier. That optimism appears to be paying off.
“Change takes time, but we’re starting to see a difference in our performance across the business,” CEO Kelly Ortberg said in a note to staff, according to CNBC.
“If we continue to tackle the important work ahead of us and focus on safety, quality and stability, we can navigate the dynamic global environment and make 2025 our turnaround year,” he said.
Reduced losses are merely one sign of the improvement unfolding at Boeing, per CNBC. The manufacturer’s airplane deliveries have also increased and at the same time, its production process is said to have stabilized.
The plane maker is currently producing 38 Boing Max aircraft each month, which is the limit set by the Federal Aviation Administration (FAA) following the 2024 door plug incident that could have been a catastrophe.
Ortberg said earlier this year that the maker will seek FAA permission to produce more than the 38 plane limit.
“We want to be stable” at 38 a month and then work with the FAA on a rate increase, Ortberg told CNBC. “We will be working with the FAA in the third quarter for sure.”
Still, 2025 hasn’t been all smooth sailing. In April, a Boeing jet headed for China was returned to the United States amid President Trump’s deepening trade war.
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