NEW YORK, July 28 — Boeing landed its first quarterly profit since 2019 due to a recovering commercial aviation market that will enable the company to cut fewer jobs than initially planned, according to results released today.
The results, which surprised analysts who had projected another loss, marked the company’s first positive earnings since the third quarter of 2019 before coronavirus shuttered the economy. Boeing Chief Executive Dave Calhoun said the company will keep its workforce at the current 140,000, rather than cutting to 130,000 as announced earlier in the pandemic. “We’re now seeing more stability in our staffing levels, as the commercial market recovery accelerates, our defence and government services business targets growth opportunities and we increase investments to further strengthen engineering, and drive quality and stability in our production system,” Calhoun said.
It also saw a much smaller quarterly loss in its commercial plane division, thanks largely to the resumption of deliveries of the 737 MAX that were suspended after the 20-month grounding following two fatal crashes.
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