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The
outbreak has crippled passenger travel and pushed major airlines
to the brink of bankruptcy, resulting in many carriers deferring
aircraft deliveries.
The U.S. planemaker, which is also grappling with the
16-month-old ban on its 737 MAX after fatal crashes, said it
would take longer to reach its monthly target of producing 31
units of the 737 MAX jets, missing its own expectations of
achieving that in 2021, as the pandemic decimates new jet
demand.
Boeing now expects to gradually increase the 737 production rate
to 31 per month by the beginning of 2022.
The company said it would reduce 787 production to six jets a
month in 2021 - a third rate drop from a year ago, when it was
producing the Dreamliners at a record monthly rate of 14 planes.
Boeing also said it would again reduce the combined production
rate of the 777 and 777X jets to two planes per month in 2021,
while delaying the 777X's entry into service by up to a year, as
Reuters previously reported.
The company had earlier announced plans to cut the 777 and 777X
production to three jets per month in 2021, from five currently.
It was previously aiming to get the 777X, a larger version of
the 777 mini-jumbo, into the hands of customers in 2021.
On an adjusted basis, Boeing lost $4.79 per share, bigger than
analysts' average estimate of a loss of $2.54, according to IBES
data from Refinitiv.
The company's sales tumbled 25% to $11.81 billion in the
quarter, missing estimates of $13.16 billion.
(Reporting by Reporting by Eric M. Johnson in Seattle and Ankit
Ajmera in Bengaluru; Editing by Sriraj Kalluvila)
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