Top jet manufacturer Boeing reported on Wednesday a net loss of $355 million in the first quarter after months of scrutiny over recent safety issues.
Operating revenue declined 8% year over year in the first quarter, from approximately $17.9 billion to $16.6 billion, with the company burning more than $3.9 billion in free cash flow in the time frame compared to $786 million a year ago, according to Boeing’s first quarter earnings report. Recent scrutiny of safety with Boeing products began in January after an Alaska Airlines flight had a door plug fly off mid-air, resulting in an emergency landing and an investigation into the company’s quality assurance. (RELATED: The Oil And Gas Industry Might Be What’s Keeping Biden’s Economy Humming On Paper Despite ‘Regulatory Assault’)
“Our first quarter results reflect the immediate actions we’ve taken to slow down 737…
