Boeing reports increasing profits in second quarter | News

Must read

[ad_1]

Boeing has reported second-quarter revenue of $17 billion, driven by increased demand for commercial aircraft.

The figure is up 44 per cent from the $11.8 billion recorded in the same period last year.

The manufacturing giant said GAAP earnings per share of $1 and core earnings per share of $0.40 primarily reflected higher commercial volumes and lower costs.

Boeing recorded a net profit of $567 million for the second quarter, compared to a loss of $2.4 billion in the same period last year.

In response, the company said it now planned to cut 10,000 fewer jobs than it forecast during the depths of the Covid-19 pandemic.

The company has about 140,000 employees at present and expects to stay at that level.

Boeing said in October last year that it was aiming to reduce its staff from 160,000 to 130,000 through lay-offs, voluntary departures and attrition as the crisis and travel restrictions devastated demand for new jets.

“We continued to make important progress in the second quarter as we focus on driving stability across our operations and transforming our business for the future,” said Boeing chief executive, David Calhoun.

“While our commercial market environment is improving, we are closely monitoring Covid-19 case rates, vaccine distribution and global trade as key indicators for our industry’s stability.”

Rival Airbus reported a similar uptick in demand for commercial aircraft this morning.



[ad_2]

- Advertisement -

Amir Khan says he was escorted from US flight ‘for no reason’ | UK...

1
British boxer Amir Khan has said he was escorted from a flight in the US by police “for no reason”.The 34-year-old, who has...

Arts, music featured at Franklin Park event

1
Yaw Asamoah of Dublin was born in the West African nation of Ghana but has lived in central Ohio for 20 years.He retains a...

Amber list scrapped in England travel shake-up | News

2
Transport Secretary, Grant Shapps, has announced a simplified system for international travel from the UK. He argued the move was possible in light of...

Peter Williams, Who Painted the Black Experience, Dies at 69

1
Peter Williams, whose colorful paintings — sometimes humorous, sometimes disturbing, often both — reflected his own history, Black history and contemporary issues like...

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest article

Covid - 19

Covid Update