The company’s loss from operations climbed to $12.8 billion, up from nearly $2 billion a year ago, which was Boeing’s previous record loss. The company’s net loss soared to $11.9 billion, also an increase from the previous year’s record of $636 million.
The net loss is so much larger partlybecause of the decision announced Wednesday to push the first delivery of its newest jet, the 777X, back to 2023, from its previous target of a 2022 launch. The widebody long-range plane was designed to be used mostly on international travel, and that is the part of air travel that is expected to take the longest time to recover from the pandemic. Boeing took at $6.5 billion charge as a result of that delay.
But the company will be a smaller company than it was before the crises.