Boeing takes near $5 billion hit on 777X program

Boeing reported a charge of nearly $5 billion related to delays in its 777X jet program on Wednesday, but its quarterly loss narrowed on improved production and deliveries of commercial aircraft.

Despite progress on the 737 MAX, the planemaker continues to face setbacks with its 777X program. It said on Wednesday the first delivery of the 777X has been pushed to 2027, delaying the timeline further from the previously expected 2026 launch.

The aircraft was originally slated for delivery in 2020 when the program was launched in 2013.

Last month, CEO Kelly Ortberg said the company was behind schedule in certifying the jet, saying a "mountain of work" needed to be done.

He, however, said no new technical problems had been identified.

Including charges disclosed on Wednesday, Boeing has taken about $15 billion in charges related to the 777X program.

After years of grappling with quality issues and production delays on its flagship 737 MAX, Boeing cautiously ramped up monthly output in 2025.

Earlier this month, the company received the long-awaited approval from the U.S. Federal Aviation Administration to increase 737 MAX production to 42 jets per month, easing a cap of 38 that had been in place since January 2024.

That cap was imposed following a mid-air panel blowout on a nearly new aircraft.

The planemaker posted a net loss of $5.34 billion, or $7.14 per share, for the quarter through September, compared with a loss of $6.17 billion, or $9.97 per share, a year earlier.

Boeing delivered 55 jets in September, marking its strongest performance for that month since 2018. This was a significant jump from the 33 deliveries recorded a year earlier, when a strike involving 33,000 factory workers in the Pacific Northwest disrupted production.

Deliveries are closely watched by Wall Street, as planemakers typically receive the bulk of their payments upon handing over the jets to customers, making deliveries a key indicator of revenue and cash flow.