Boeing turns first profit in almost 2 years, shares jump 5%

on Wednesday posted its first quarterly profit in almost two years as revived domestic travel fueled 737 MAX deliveries, and shares rose 5% despite festering U.S.-China relations and depressed long-haul travel.

Calhoun told investors on a conference call, "The U.S. domestic market is showing remarkable recovery" but cautioned that international travel could take longer to pick up. He added that Boeing was worried about COVID-19 variants and a labor shortage in its sprawling supply chain.Boeing's 737 MAX remains grounded in China, where trade tensions between Washington and Beijing have stunted sales. Calhoun said he still expects the 737 MAX to win approval before year-end.

Calhoun added that Boeing may need to rethink its plan for production rate increases if the 737 MAX is not approved in China by year-end. Looking to build momentum, Boeing is preparing to launch its delayed CST-100 Starliner astronaut capsule to the International Space Station on Friday in a crucial do-over test following a near "catastrophic failure" during its 2019 debut.

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Boeing posts first profit in almost two years helped by 737 MAX deliveriesBoeing Co (BA.N) on Wednesday posted its first quarterly profit in almost two years, as deliveries of its best-selling 737 MAX jets to airlines gained traction amid a sharp rebound in travel bookings following an increase in global COVID-19 vaccinations. It's also the 737max that stopped them from having profits the last 2 years. The company has done a great deal in connecting people and places. When can they start paying back those billions they got at the start of pandemic
Source: Reuters - 🏆 2. / 97 Read more »

Boeing posts first profit in almost two years helped by 737 MAX deliveriesBoeing Co (BA.N) on Wednesday posted its first quarterly profit in almost two years, as deliveries of its best-selling 737 MAX jets to airlines gained traction amid a sharp rebound in travel bookings following an increase in global COVID-19 vaccinations. It's also the 737max that stopped them from having profits the last 2 years. The company has done a great deal in connecting people and places. When can they start paying back those billions they got at the start of pandemic
Source: Reuters - 🏆 2. / 97 Read more »