Boeing posts fourth straight quarterly loss as sales slump

(Reuters) - Boeing <BA.N> reported its fourth straight quarterly loss on Wednesday as the coronavirus crisis and the 737 MAX jet grounding hurt sales, while reaffirming its expectation that U.S. deliveries of the aircraft would resume before year-end.

Boeing said it was sticking with the deeply reduced widebody production rates announced in July, as well as the goal to hit a build rate of 31 narrowbodies monthly in early 2022.

The planemaker said sales in the defense business dipped 2% to $6.85 billion, while commercial jet revenue slumped 56% to $3.60 billion.

Excluding items, Boeing lost $1.39 per share in the third-quarter ended Sept. 30.

(Reporting by Eric M. Johnson in Seattle and Ankit Ajmera in Bengaluru; Editing by Anil D'Silva)

10/28/2020 11:38

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