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America’s largest exporter, the Boeing Company, reported at massive loss of $11.9B today for fiscal year 2020. A $6.5B charge was included for the delay to 2023 of the 777-X program, Boeing’s new long-haul airliner.
The company is still recovering from the grounding of its best-selling product, the 737 Max passenger jet. Boeing’s defense contracting business is performing but is dwarfed by the civilian aviation product line.
Europe has recently re-certified the 737 Max for flight.
Aviation in general has been hard hit by the CCP coronavirus pandemic.
China has been overactive in attempting to replicate wide-body jet production to acquire another American technology leader through intellectual property theft.
Although a self-inflicted wound, Boeing’s production problems have given the Chinese Communist Party an opening in this endeavor.
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The post Boeing Reports $11.9 Billion Loss In 2020, As China Looks To Overtake US In Wide-Body Jet Production appeared first on CD Media.
