Boeing’s has once again disappointed analysts with their financial reports.
Boeing (NYSE: $BA) has posted Q1 losses of $537 million, which is a sharp decrease from its staggering losses during 2020, but was still disappointing to analysts nonetheless. Like the entire airlines industry, Boeing has suffered from lack of demand and travel restrictions.
But the 737 crashes from 2020 still plague Boeing today.
Because of those incidents, there’s been hundreds of planes left sitting in the backlog of Boeing, waiting to be delivered. The sale of 787 models have also taken a nosedive in the past quarter, citing increased prices due to previous malfunctions of the model and poor demand as the reasons. At the same time, geopolitical issues persist between the US and China, which also in turn affect the rate at which Boeing planes are taking off.
But CEO David Calhoun believes that Boeing is at an “inflection point.” Traveling restrictions easing due to recovery from the pandemic is just on the horizon, and he believes that struggling regions around the world, like parts of Europe and India, will recover as well.
Restrictions around the world have been easing as of late, and Boeing planes sitting in backlogs may soon find new homes. Boeing is also hoping to mend relationships with China, as demand has plummeted due to the tense trading landscape between the two countries and previous groundings of its models.