Latest news with #DigitalAviationSolutions
Time of India
12 hours ago
- Business
- Time of India
Boeing executive says don't expect any more big assets sales at this time
Boeing is not planning any more big asset sales at this time, Chris Raymond , the head of its global services business, said at the Paris Airshow on Tuesday. Battling to recover from a series of crises, CEO Kelly Ortberg has been selling non-core assets to reduce Boeing's debt. In April, the U.S. planemaker struck a deal in April to sell parts of its Digital Aviation Solutions business, including navigation unit Jeppesen, to private equity firm Thoma Bravo for $10.55 billion.
Yahoo
23-04-2025
- Business
- Yahoo
Boeing Stock Surges on Narrower-Than-Expected Loss
Boeing (BA) shares jumped Wednesday morning after the plane maker's first-quarter adjusted loss came in much smaller than anticipated. The company reported an adjusted loss per share of $0.49 on revenue of $19.50 billion. Analysts polled by Visible Alpha had expected an adjusted loss per share of $1.24 on revenue of $19.66 billion. "Our company is moving in the right direction as we start to see improved operational performance across our businesses from our ongoing focus on safety and quality," Boeing CEO Kelly Ortberg said. "We continue to execute our plan, are seeing early positive results and remain committed to making the fundamental changes needed to fully recover the company's performance while navigating the current environment." Shares of Boeing were up 8% just after the market opened. They entered the day down 8% since the start of the year. On Tuesday, Boeing said it would sell parts of its Digital Aviation Solutions business to software investment firm Thoma Bravo for $10.55 billion. The company said the all-cash deal will help improve its balance sheet and allow it to focus on its core businesses. Boeing has been caught in the crossfire of the developing trade war between the U.S. and China, as its completed planes have reportedly started to come back to America after China told its domestic airlines not to accept deliveries. Boeing, which topped Q1 deliveries and production estimates earlier this month, said last year it expected Chinese airlines to generate demand for thousands of new planes over the next two decades as the air travel industry grows in the country. The plane maker also still faces a looming trial in June as it works with the U.S. Department of Justice on a revised guilty plea to a charge of defrauding the federal government over fatal 737 Max crashes in 2018 and 2019 after a previous agreement was rejected by a judge last December. UPDATE—This article has been updated with the latest share price information. Read the original article on Investopedia Sign in to access your portfolio
Mint
23-04-2025
- Business
- Mint
Quarter results: Boeing Q1 loss narrows on higher jet deliveries
US planemaker Boeing Co. on Wednesday reported a narrower loss for the first quarter ended March 31 on higher jet deliveries. It reported a loss of 16 cents per share during the first quarter, as compared with a loss of 56 cents per share in the same period a year ago. During the first quarter, free cash flow usage improved to negative $2.3 billion, as compared with negative $3.9 billion a year ago, Boeing said in a statement. Shares of the company rose 4.2% in pre-market trading. "We're building higher quality airplanes and delivering them with more predictability," Ortberg said in a letter to employees. Calling 2025 'our turnaround year,' Ortberg said the company is on track to raise output of its cash cow 737 Max jetliner over the next few months to the 38-jet monthly cap imposed by US regulators. The company will then seek permission to go to 42 units 'later this year,' a move that would help generate cash that's been depleted by a recent strike and manufacturing crises. The planemaker on Tuesday announced the sale of portions of its Digital Aviation Solutions business, including navigation unit Jeppesen, for $10.55 billion, as part of a plan by Chief Executive Officer Kelly Ortberg to reduce debt by selling off non-core assets. For full year 2024, the planemaker had reported a loss of $11.8 billion due to problems at its major units. Boeing said it remained susceptible to the fallout from President Donald Trump's tariff, which have halted aircraft deliveries to China, the world's second-biggest aviation market after the US. 'While we are closely watching the developments in global trade, our strong start to the year combined with the demand for airplanes and our half trillion-dollar backlog for our products and services gives us the flexibility we need to navigate this environment,' Ortberg said.
Mint
23-04-2025
- Business
- Mint
Quarter results: Boeing Q1 loss narrows on higher jet deliveries
US planemaker Boeing Co. on Wednesday reported a narrower loss for the first quarter ended March 31 on higher jet deliveries. It reported a loss of 16 cents per share during the first quarter, as compared with a loss of 56 cents per share in the same period a year ago. During the first quarter, free cash flow usage improved to negative $2.3 billion, as compared with negative $3.9 billion a year ago, Boeing said in a statement. Shares of the company rose 4.2% in pre-market trading. "We're building higher quality airplanes and delivering them with more predictability," Ortberg said in a letter to employees. Calling 2025 'our turnaround year,' Ortberg said the company is on track to raise output of its cash cow 737 Max jetliner over the next few months to the 38-jet monthly cap imposed by US regulators. The company will then seek permission to go to 42 units 'later this year,' a move that would help generate cash that's been depleted by a recent strike and manufacturing crises. The planemaker on Tuesday announced the sale of portions of its Digital Aviation Solutions business, including navigation unit Jeppesen, for $10.55 billion, as part of a plan by Chief Executive Officer Kelly Ortberg to reduce debt by selling off non-core assets. For full year 2024, the planemaker had reported a loss of $11.8 billion due to problems at its major units. Boeing said it remained susceptible to the fallout from President Donald Trump's tariff, which have halted aircraft deliveries to China, the world's second-biggest aviation market after the US. 'While we are closely watching the developments in global trade, our strong start to the year combined with the demand for airplanes and our half trillion-dollar backlog for our products and services gives us the flexibility we need to navigate this environment,' Ortberg said. Boeing, which last earned a profit in mid-2021, is coming off one of the worst years in its century-long history. It endured a lengthy strike by employees late last year, following months of production turmoil and a senior management shakeup in the wake of a near-catastrophic accident at the start of 2024. First Published: 23 Apr 2025, 06:07 PM IST
RTÉ News
23-04-2025
- Business
- RTÉ News
Boeing posts smaller quarterly loss on higher jet deliveries
Boeing reported a smaller-than-expected quarterly loss today, as the US planemaker produced and delivered more jets, after a quality crisis and crippling strike shuttered production of most of its aircraft in late 2024. Boeing has been delivering more planes and wants to boost output of its strong-selling 737 MAX jets to 38 a month in 2025, after production slumped last year due to a series of crises and a strike by about 30,000 US West coast factory workers. Shares of the Dow component rose 4% in premarket trading, as the company said 737 production gradually increased in the quarter and it is still expected to reach 38 units per month by the end of the year. But the planemaker faces pressures from supply-chain snags that have delayed production and dented its ability to cater to a booming aerospace market. It reported an $11.8-billion loss for 2024 due to problems at its major units. Boeing is also dealing with the fallout of a US-China trade war that led to the return of two of its planes destined for a Chinese carrier. The planemaker is working to chart a recovery path under new CEO Kelly Ortberg, who is taking steps to streamline operations and strengthen its balance sheet. On Tuesday, Boeing announced the sale of portions of its Digital Aviation Solutions business, including navigation unit Jeppesen, for $10.55 billion, as part of a plan by Ortberg to reduce debt by selling off non-core assets. In a letter to employees on Wednesday, Ortberg referred to 2025 as Boeing's "turnaround year", citing higher first-quarter deliveries and product improvements. "We're building higher quality airplanes and delivering them with more predictability," he said in the letter. Free cash flow usage, a metric closely watched by investors, during the quarter improved to negative $2.3 billion, compared with negative $3.9 billion a year ago. Boeing CFO had said in March that the cash flow could improve in the first quarter by "hundreds of millions" of dollars. The planemaker reported an adjusted loss of 49 cents per share during the first quarter, compared with analysts' average expectations of $1.29, according to data compiled by LSEG. Its revenue increased 18% to $19.5 billion in the quarter through March, marginally above Wall Street expectations of $19.45 billion.
