Boeing's CEO Kelly Ortberg announced plans to seek FAA approval to increase the production of its 737 MAX jets to 42 units per month, following improved financial results. The company reported a first-quarter net loss of $31 million, a significant improvement from the previous year's $355 million loss. Revenue rose by 18% to $19.5 billion, slightly surpassing analyst expectations. Boeing's cash outflow improved to approximately $2.3 billion, better than anticipated by analysts, contributing to a 4% pre-market stock increase.
Despite global trade tensions, Boeing remains optimistic due to strong aircraft demand and a $500 billion backlog in products and services. The company's commercial airplane division saw a 75% revenue increase to $8.1 billion, with deliveries up from 83 to 130 units. Ortberg emphasized the progress in safety and production processes, aiming to recover from past crises, including a 2024 incident involving a 737 MAX.
Boeing is refocusing on core operations, recently selling parts of its digital aviation business for $10.55 billion. The defense division faced challenges, with a 9% revenue drop to $6.3 billion, but secured a contract to build the new F-47 fighter jet for the U.S. Air Force.
