The incident with a Boeing 737 MAX-9 from Alaska Airlines at the beginning of the year had a massive impact on the US aircraft manufacturer’s business figures. For the first time in seven quarters, Boeing suffered a decline in sales from January to March: by eight percent to $16.6 billion. Boeing had to reduce production of its best-selling 737 MAX at the behest of the US Federal Aviation Administration (FAA) following the headline-grabbing breakdown. In total, only 83 aircraft were delivered in the first quarter, including 67 Boeing 737 MAXs – 36 percent fewer than a year ago. The cash outflow from operations jumped to $3.9 billion, about five times as high as a year earlier, Boeing announced. The group had expected a cash outflow of up to 4.5 billion. The adjusted loss fell to $388 (same period last year: $440) million.
The arms business, which had recently been in the red, provided some relief this time. Boeing shares rose 3.6 percent premarket because the loss was smaller than expected. “It could have been worse,” wrote analyst Robert Stallard of Vertical Research Partners. But Boeing still has serious problems to solve.
Outgoing CEO Dave Calhoun spoke of a “difficult moment” in a letter to the workforce. The reduction in production is just as much a problem for customers as it is for Boeing’s finances itself. “But safety and quality must and will have absolute priority. We are turning over every stone and making significant progress.” Calhoun had announced his departure at the end of the year. In January, part of the cabin wall behind which the emergency exit is located fell out of an Alaska Airlines Boeing 737 MAX shortly after take-off from Portland at an altitude of five kilometers. The aircraft manufacturer has been struggling for years with allegations of shoddy design and production of the machines.