Boeing is facing a cash burn for the remainder of 2024 and will not increase its deliveries in the second quarter, the company’s chief financial officer said on May 23.
The aerospace manufacturer is entrenched in a historic public image crisis. Multiple aircraft incidents triggered investigations from the Justice Department and the Federal Aviation Administration (FAA), cutting into the production of planes used by airliners around the world.
CFO Brian West said Boeing will lose cash instead of earn it in 2024 while speaking at the Wolfe Research Global Transportation and Industrials Conference on May 23. He explained that deliveries will not increase in quarter two and that the company has ceased distributing planes to China while the country’s regulators review a cockpit recording device battery....
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