The Boeing company announced a yearly loss of $11.83 billion, the largest since 2020, due to issues in its commercial and defense divisions, as well as ongoing labor strikes in the western part of the U.S.
This loss reflects the challenges faced by the company, according to CEO Kelly Ortberg during the company's transformation process. Boeing is losing even more ground to its competitor Airbus in the race for deliveries and is under pressure from regulators and clients due to a series of errors.
However, Ortberg, who took the helm of the aviation company in August, stated that "the company is progressing in stabilizing its stalled production lines following last year's horrific air incident in 2024."
