The company recorded a loss in operational earnings of $636 million last year, down from a $10.5 billion profit in 2018, with costs arising from the Max grounding spiralling to nearly $19 billion – more than double Boeing’s initial estimate.
Boeing’s commercial aircraft division lost $6.7 billion last year, and the manufacturer has earmarked another $2.6 billion to further compensate airline customers for the ongoing grounding.
Meanwhile, Boeing also recorded a $2.6 billion increase in production costs relating to the Max last year, and expects a further $4 billion hit from “abnormal production costs”.
