Boeing lost $2.4 billion in the second quarter and the company will slow production and cut more jobs as demand for commercial aircraft shrinks during the coronavirus pandemic.
The loss was far worse than Wall Street expected; so was the decline in revenue, which fell 25%.
In late July, Boeing dropped out of the running for the new intercontinental ballistic missile competition. Boeing chose to remove itself with the expectation it will be unable to provide the system at a competitive price.
by Hanna Bogorowski Boeing decided to cancel an order for a satellite that uses sensitive technology used by the U.S. military and was reportedly being funded by a state-owned Chinese financial firm. A Wall Street Journal investigation revealed Tuesday the troubling web of financial transactions that skirted around U.S.…