Boeing reports $11.9 bn annual loss after hit on 777X delay

New York (AFP) – Boeing closed the books on a bruising 2020 by announcing another unpleasant surprise on Wednesday: a $6.5 billion hit from delays to its new 777X plane that exacerbated the aerospace giant’s annual loss. Boeing, which saw its revenues ravaged by the commercial airline downturn sparked by the Covid-19 crisis and the 20-month grounding of its 737 MAX model, now expects first deliveries of the wide-body 777X in late 2023, compared with the earlier timetable of 2022. The accounting for the 777X prolongation pushed Boeing’s fourth-quarter loss to $8.4 billion, plunging its tally fo…

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