Salem Radio Network News Friday, May 20, 2022


Boeing records $3.5 billion charge as 787 problems mount

(Reuters) – Boeing Co said on Wednesday said it incurred a $3.5 billion charge in the fourth quarter due to longer-than-expected delivery delays of its problem-plagued 787 widebody jet.

Still, Boeing generated positive cash flow in the fourth quarter, representing its first positive cash quarter since early 2019, fueled by 737 MAX deliveries as air travel rebounds from the pandemic.

(Reporting by Uday Sampath and Aishwarya Nair in Bengaluru, and Eric M. Johnson in Seattle; Editing by Saumyadeb Chakrabarty)


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