Boeing lost $2.4 billion in the second quarter and the company will slow production and cut more jobs as demand for commercial aircraft shrinks during the coronavirus pandemic. Smith said it expects to deliver most of them by late next year – potentially a desperately needed source of cash for the aircraft builder.The loss was far worse than Wall Street expected; so was the decline in revenue, which fell 25%.“My guess is we will be in this mode at least through the end of the year and partly into first quarter of next year,” he said.The company has been forced to lay off thousands of workers, cut spending and suspend its dividend and share buybacks. But what we're seeing is the result of Boeing's investment and the Navy's investment here that those jobs are coming back,â he said.SAN ANTONIO -- The United States Navy is bringing hundreds of fighter jets to San Antonio for major upgrades.San Antonio Mayor Ron Nirenberg and Sen. John Cornyn (R-TX) joined members of Boeing and the Navy for a ribbon-cutting ceremony. CHICAGO (AP) _ Boeing Co. (BA) on Wednesday reported a loss of $2.38 billion in its second quarter. “You want to store those aircraft that you think are going to go first in close proximity to the delivery centers.”See the buildup at Moses Lake in a series of time-lapse photos from Planet Labs, a San Francisco-based company with a network of about 140 small satellites that take over a million images of the Earth a day:At Boeing’s test facility at Moses Lake near Seattle, there were 40 737 MAX aircraft as of Tuesday, the images show. Paul R. Bergman says Boeing is also storing 737 Max jets at facilities around Seattle. Analysts expected $12.95 billion, according to FactSet.Calhoun said it will take around three years to return to 2019 passenger levels. On Tuesday, an airline industry trade group said air travel won’t recover to pre-pandemic levels until at least 2024, a year longer than its previous forecast. There’s room at Moses Lake for 90 to 95 planes, estimates Michel Merluzeau, a Seattle-based director of aerospace and defense market analysis with the consultancy AIR.There were 60 planes in a section of Boeing Field as of Sunday, near the 737 factory in Renton, Washington, with some taking over employee parking spots.737 MAX planes parked at Boeing Field on Sunday. Boeing will add 500 jobs at its facility at Port San Antonio over the next several years as it begins to modernize the Navy’s Super Hornet fighter jets, company officials announced Monday. If it needs to, Boeing can fly planes to airplane storage fields in Victorville, California, or the Mojave Desert. The company will study whether to close one of its two factories that make the 787; one is near Seattle, the other in South Carolina.The second-quarter loss included write-downs for production slowdowns, severance payments and temporary closures because of virus outbreaks in Boeing factories.
At part of Boeing’s San Antonio maintenance facility at the former Kelly Air Force Base, there were about 30 planes parked as of July 18.
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