Boeing Benefits from Aviation Recovery from Corona Crisis

Boeing Benefits from Aviation Recovery from Corona Crisis

American aircraft manufacturer Boeing is benefiting from the recovery in the aviation sector from the corona crisis. As a result, airlines ordered new aircraft from Boeing after those orders were previously cancelled or postponed.

 

As a result, the company could significantly increase turnover in the second quarter and make a profit again, after the deep red figures a year ago.

Revenue rose 44 percent year-over-year to $17 billion. Net profit was $567 million. It is the first profit in nearly two years. A year ago, Boeing suffered a loss of 2.4 billion dollars.

According to the company, deliveries increased in the past period to 79 commercial aircraft compared to 20 in the second quarter of 2020. This mainly concerns deliveries of the 737 MAX, which has been allowed to fly again since the end of last year after being grounded for a long time, two fatal accidents involving the type in a short period of time.

Incidentally, there are various problems at Boeing because earlier this month, it was announced that the group would deliver far fewer 787 Dreamliners this year than anticipated due to a manufacturing defect. In addition, the entire US fleet of 737s must be inspected for a possible defect.

Boeing also earned more money from aircraft maintenance services. The company also has a defence and aviation division. Income there increased slightly. For example, Boeing builds fighter planes, helicopters, and military transport and tanker aircraft.

Boeing’s airliner order book stands at more than 4,100 aircraft, with a total value of $285 billion.

CEO David Calhoun further said Boeing plans to maintain its workforce at its current 140,000 employees, abandoning its previous plan to cut it to 130,000. Calhoun said the decision is linked to “encouraging trends” in the airline industry’s recovery.

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