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Boeing Posts $8.4 Billion Loss on Weaker Demand for Planes

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Boeing Posts $8.4 Billion Loss on Weaker Demand for Planes

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Boeing closed out its worst year ever financially by losing $8.4 billion in the fourth quarter as the pandemic has undercut demand for planes, and the company announced another costly delay to its new large jetliner designed for long-haul flights. Most of Boeing’s troubles over the past two years have swirled around the troubled 737 Max. However, the biggest piece of the fourth-quarter loss reported Wednesday was a pretax charge of $6.5 billion tied to its newest plane, the bigger 777X. It all added up to a record full-year loss of $11.94 billion. “Listen, 2020 was a year like no other. Our world, our industry, our business, and our communities were facing unprecedented challenges, and we’re still in the midst of it,” CEO David Calhoun said on a call with analysts. “The next six to nine months will remain very challenging for our airline customers and the entire industry.” Boeing …

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