Boeing reports $1.6 billion loss in Q3

The Boeing Co’s troubled 787 and 747-8 programmes, along with the global economic recession dragged down its third-quarter earnings, causing the company to report a US$1.6 billion loss Wednesday.

“We look forward to getting the 787 and 747-8 in the air soon and moving forward with flight test and certification for these two important programmes,” said Jim McNerney, Boeing’s chief executive.

Last month, Boeing disclosed a $1 billion charge on its delayed 747-8 Freighter program and earlier in August, Boeing had announced it would take a $2.5 billion charge on its 787 Dreamliner program. On Wednesday, Boeing announced that it wrote down another $138 million on the program between August and September.