Boeing reported its largest losses since 2020, according to Reuters.

Boeing reported an annual loss of $11.83 billion, marking the largest figure since 2020. This outcome is attributed to issues in both the commercial and defense sectors, as well as the repercussions of a large-scale strike by factory workers on the U.S. West Coast.

According to Reuters.

These losses highlight the challenges faced by CEO Kelly Ortberg as she attempts to turn around the aerospace situation. The company is trailing behind competitor Airbus in the supply race and is under pressure from regulators and customers due to a series of mistakes.

Ortberg, who took the helm in August, noted that progress has been made in stabilizing production processes following a catastrophic aviation accident in 2024 that raised safety concerns about the aircraft.

Revenue for the fourth quarter, which ended in December, decreased by 31% compared to the previous year, totaling $15.24 billion.

In 2024, the company's cash flow dropped by $14.3 billion compared to a positive figure of $4.43 billion in 2023.

Background. Previously, Mind reported that Boeing raised a record $21 billion through stock sales. The largest U.S. aircraft manufacturer is striving to overcome the aftermath of the crisis and avoid a downgrade in its credit rating.