American planner Boeing reported on Wednesday that higher jet losses were narrower in the first quarter ended March 31.
It reported a loss of 16 cents per share in the first quarter, compared with a loss of 56 cents per share in the same period a year ago.
In the first quarter, free cash flow usage rose to negative $2.3 billion, compared with a negative $3.9 billion a year ago, Boeing said in a statement.
The company’s shares rose 4.2%, with prepayment of market transactions.
“We are building higher quality aircraft and providing more predictability,” Olterberg said in a letter to employees.
Ortberg called the 2025 “Our Turnover Year” and said the company is expected to increase its Max 737 Max Jetliner production in the coming months to boost 38 monthly salary imposed by U.S. regulators.
The company will then seek permission to enter 42 units “later this year”, a move that will help generate cash, which has run out of cash by the recent strike and manufacturing crisis.
The planner announced Tuesday the sale of part of its digital aviation solutions business, including navigation unit Jeppesen, for $10.55 billion, as part of CEO Kelly Ortberg’s plan to reduce debt by selling non-core assets.
In 2024, the planner reported a loss of $11.8 billion due to its major unit problems.
Consequences of U.S. tariffs
Boeing said it remains vulnerable to President Donald Trump’s tariffs, which have stopped planes to China, the world’s second largest aviation market after the United States.
“While we are closely watching global trade, our strong start this year and the demand for aircraft and the semi-value backlog of our products and services gives us the flexibility to browse this environment,” Olterberg said.
Boeing made its last profit in mid-2021, one of the worst years in its history in a century. It suffered a long strike from employees in the second half of last year following a nearly stomach accident in early 2024 and a long strike after production turmoil and senior management reorganized.
