Boeing Reports Quarterly Loss, Plans to Increase Aircraft Production and Deliveries

Despite reporting another quarterly loss, Boeing is facing supply chain challenges and plans to increase aircraft production and deliveries this year. The company has reportedly been struggling to increase production to keep up with demand due to shortages of components such as aircraft engines.

Boeing's Financials

The financial report shows that for the full year of 2022, Boeing's revenue will be about US$66.6 billion, a year-on-year increase of 7%. However, the net loss will be about 5.053 billion US dollars, an increase of about 18% year-on-year. This marks the fourth consecutive year that the company has reported losses, primarily due to exceeding the budget for commercial aircraft production costs.

Delivery and Order Numbers

Boeing delivered 152 commercial aircraft in the fourth quarter of 2022, a year-on-year increase of 54%. In 2022, it delivered 480 commercial aircraft, a year-on-year increase of 41%. The company has also received a total of 774 net orders for commercial aircraft in 2022, including 561 orders for 737 families and 213 orders for twin-aisle aircraft.

Production Plans

The current production of the Boeing 737 is 31 per month. In order to meet the increasing demand, the company plans to increase the production of this model to 50 per month in two years. Additionally, the production of the Boeing 787 will be increased to 5 per month by the end of this year.

Boeing's financials may not be as strong as expected, but the company is facing supply chain challenges and aims to increase aircraft production and deliveries to meet the increasing demand for commercial aircraft. With a rebound in aircraft orders last year as airlines recovered from the travel downturn caused by the pandemic, both Boeing and rival Airbus are facing the challenge of increasing production while dealing with shortages of components. This year, Boeing's focus will be on increasing the production of its 737 and 787 models to keep up with the demand.