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Boeing recovery ‘ahead’ of schedule, says chief Kelly Ortberg

Increased commercial jet deliveries help planemaker to narrow losses

Boeing’s chief executive has said the company’s turnaround plan is running ahead of schedule, as increased commercial jet deliveries drove revenues 35 per cent higher and helped it narrow losses in the second quarter.

The US aircraft maker reported a net loss of $612mn for the three months to the end of June, down from $1.44bn a year earlier, on revenue of $22.7bn. Analysts polled by LSEG had expected a loss of $631mn.

Boeing also reported better than expected free cash outflow of $200mn in the second quarter, down from $4.3bn in the same period a year earlier.

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