Boeing Makes Losses Of ₹50,000 Crore In A Quarter; Shares Of The Aircraft Maker Dip Further

Boeing is one of the United States's largest employers and arguably one of the biggest names not only in the aviation paradigm but also the world of business at large.

Boeing Reports Mammoth Losses

The fortunes of this behemoth have gone with the wind to nowhere as the jet maker has been embroiled in one controversy after the other, leaving it fraught in a quagmire of issues, drowning the company in an almost inescapable situation.

This situation is so dire that the company's most reliable face, the company's former CEO David Calhoun, had 'depart' from the maker of the controversial 737 Max.

The company recently released its quarterly result for the earnings season. And the company has reported colossal losses of USD 6 billion or about Rs 50,000 crore.

Revenue Dips

This adds to the existing pile of losses, taking the overall losses in 2024 to Rs 8 billion.

In addition to this, the company's revenue also saw a 1 per cent drop, slumping USD 17.8 billion, adding to the company's woes.

In line with the expectations, the company also saw its shares suffer in the intraday trade on Wednesday.

The company shares lost 1.76 per cent or USD 2.82, of their value in the span of the day. As the trading day came to a close, the share price reached the value of USD 157.06 at the time of closing.

This comes after a period of mild recovery in its performance at the equity market, thanks to its plans to stabilise the company.

The Problems Of Boeing

Recently, it was also reported that as many as 17,000 of the company employees are in the line of firing, amid the ongoing protests that have jolted the company like never before.

This is in addition to the myriad scandals; from the Alaska Airlines fiasco, where they went tossing to the deaths of two former employees under mysterious circumstances, to its partially failed space expedition with its Boeing Starliner, problems have lined up for Boeing.

Things have not looked up for the company, which rivals the European Airbus, which has tried to capitalise on the vacuum created by the former.

In the past 6 months, the company shares have declined further by 4.42 per cent.