Boeing has reported a staggering net loss of $11.8 billion (€11.2 billion) for the past fiscal year, marking its largest financial setback since 2020. The American aerospace giant last experienced profitability in 2018 and has since been grappling with significant challenges across both its commercial aviation and defense sectors.
The company’s financial performance has been adversely affected by a protracted labor strike involving American factory workers, which significantly impeded production and delivery schedules. The strike, triggered by a wage dispute, saw tens of thousands of employees walk off the job, further straining Boeing’s ability to meet aircraft delivery targets.
The beginning of the year set a troubling tone as a panel detached from one of Boeing’s airplanes mid-flight on January 5. The incident, coupled with an ongoing leadership crisis and intensified scrutiny from regulatory bodies, has contributed to the tumultuous environment.
Boeing’s struggles can be traced back to the tragic accidents involving its 737 MAX aircraft in 2018 and 2019, which resulted in over three hundred fatalities. These incidents, followed by the global aviation downturn due to the COVID-19 pandemic, have compounded the company’s operational and financial difficulties. Boeing continues to navigate these challenges as it seeks to stabilize and realign its operations.