Boeing to cut 787/777 production as COVID-19 hammers sales

  • Due to slump in sales of various aircraft of Boeing because of Covid-19 pandemic, aircraft manufacturer will going to curtail the production for finite time
  • The company in second quarter has bore the loss of $2.40 billion while its shares have fell to $11.81 billion

Reuters
Updated29 Jul 2020, 06:36 PM IST
 A Boeing 737 MAX 8 airplane
A Boeing 737 MAX 8 airplane(AP)

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.

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First Published:29 Jul 2020, 06:36 PM IST
HomeCompaniesNewsBoeing to cut 787/777 production as COVID-19 hammers sales

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