Boeing Cuts Losses Amid Production Gains

Boeing's commercial jet production lines showed increased momentum in the first quarter, contributing to a narrowed quarterly loss for the company. Sales experienced a significant 14% increase compared to the previous year, reaching $22.2 billion. This growth was bolstered by the resurgence of its passenger jet business and expansion within its defense and space segment.

In the three months ending March 31, Boeing delivered 143 commercial aircraft, a 10% rise from the prior year. This positive trend persisted even with a wiring issue that temporarily affected some 737 MAX deliveries. The company reported a net loss of $7 million, or 11 cents per share, an improvement over the $31 million loss from the same period last year.

These financial results exceeded Wall Street's projections, which had anticipated a larger net loss and lower sales. Despite the positive quarter, Boeing utilized $1.45 billion in cash, a residual effect from stringent production caps imposed by regulators. Production of the popular 737 MAX has since ramped up to 42 planes monthly as regulatory limits ease.