Boeing's Q3 2024 Losses Soar 277.38%, Mass Layoffs Expected

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Erlina Fury Santika 15/11/2024 17:28 WIB

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American aircraft manufacturer Boeing reported a net loss of US$7.95 billion in the third quarter of 2024. The loss prompted mass layoffs.

Net Income and Loss* Boeing (Q3 2023-Q3 2024)

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Boeing's Q3 2024 Losses Soar 277.38%, Mass Layoffs Expected

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Net Income and Loss* Boeing (Q3 2023-Q3 2024)

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Boeing's financial report shows that the American aircraft manufacturer recorded a loss attributable to shareholders of US$6.17 billion. This is equivalent to Rp98.19 trillion, assuming an exchange rate of Rp15,904 per US$.

This net loss surged 277.38% year-on-year (yoy) from US$1.63 billion in the third quarter of 2024.

The aircraft giant's revenue also declined. In the third quarter of 2024, revenue was US$17.84 billion, down 1.47% (yoy) from US$18.1 billion in the third quarter of 2023.

The breakdown of revenue in the third quarter of 2024 shows product sales of US$14.53 billion, down 3.49% (yoy) from US$15.06 billion in the third quarter of 2023.

Meanwhile, service revenue reached US$3.3 billion, down 8.6% (yoy) from US$3.64 billion in the same period last year.

Boeing's assets are currently recorded at US$109.43 billion, down from US$109.27 billion in December 2023.

Total liabilities swelled to US$97.3 billion, up from US$95.82 billion in December 2023.

Total equity is recorded at a negative US$23.56 billion, increasing from a negative US$17.22 billion in December 2023.

In its report, Boeing stated that the company's total inventory is US$511 billion, including more than 5,400 commercial aircraft.

This negative financial performance has led Boeing to implement efficiency measures, including mass layoffs.

According to CNBC Indonesia, Boeing recently issued layoff notices on Wednesday (US time). At least 10% of its employees, or 17,000 people, will be affected globally.

This news comes as the company is burdened with significant debt. This does not include incidents involving Boeing across various airlines throughout 2024.

Editor : Erlina Fury Santika

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Boeing's Q3 2024 Losses Soar 277.38%, Mass Layoffs Expected

Boeing's Q3 2024 Losses Soar 277.38%, Mass Layoffs Expected

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Boeing's Q3 2024 Losses Soar 277.38%, Mass Layoffs Expected

Boeing's Q3 2024 Losses Soar 277.38%, Mass Layoffs Expected

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