Boeing reports $6.1 billion loss as strike takes toll on plane maker

Boeing reported a monolithic third-quarter nonaccomplishment of much than $6 billion, arsenic nan airplane shaper was dragged down by a onslaught and billions successful charges tied to its commercialized craft and defense programs.

Boeing's nonaccomplishment comes arsenic nan institution is struggling to correct itself aft manufacturing problems and aggregate national investigations pursuing a mid-air panel blowout in January. And successful September, 33,000 of its machinists went connected strike after failing to work together connected a contract, shutting assembly plants successful nan Seattle area.

In August, nan institution brought successful Kelly Ortberg, a seasoned aerospace executive, arsenic its caller CEO pinch nan instruction to correct Boeing's information and manufacturing issues. Ortberg, who earlier this period announced job cuts of 10% of nan company's workforce, aliases 17,000 employees, connected Wednesday wrote successful prepared remarks he'll present to investors later coming that Boeing is "at a crossroads."

"The spot successful our institution has eroded," he wrote. "We've had superior lapses successful our capacity crossed nan institution which person disappointed galore of our customers."

Boeing can't nutrient immoderate caller 737s until it ends nan five-week-old onslaught by 33,000 machinists. In his remarks, Ortberg wrote that 1 of his apical goals is ending nan strike.

On Wednesday evening, nan International Association of Machinists and Aerospace Workers will uncover whether striking workers are fresh to spell backmost to their jobs. Union members successful nan Seattle area and elsewhere will vote on a Boeing connection that includes salary raises of 35% complete 4 years, $7,000 ratification bonuses and nan retention of capacity bonuses that Boeing wanted to eliminate.

"I'm very hopeful that nan package we put guardant will let our labor to travel backmost to activity truthful we tin instantly attraction connected restoring nan company," Ortberg wrote. "Once we get back, we person nan task of restarting nan factories and nan proviso chain."

On a per-share basis, Boeing mislaid $9.97  for nan play ended September 30, pinch an adjusted nonaccomplishment of $10.44 per share. Analysts polled by Zacks Investment Research were calling for a nonaccomplishment of $10.34 per share.

Revenue totaled $17.84 billion, matching Wall Street estimates.

The Associated Press contributed to this report.

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