by Lacey Pfalz
Last updated: 12:25 PM ET, Tue January 28, 2025
The Boeing Company continued to struggle in the last months of 2024, reporting a quarterly loss of $3.8 billion and a backlog of over 5,500 commercial aircraft representing a worth of $521 billion.
According to ABC News, the company, which has been embattled lately by numerous crashes and safety failures, and more recently, a months-long worker strike, lost over $35 billion since the 2019 Max crashes that killed 346 people.
The full-year 2024 loss Boeing reported was $11.8 billion. Its annual revenue was $66.5 billion, 14 percent less than in 2023.
This quarter, shareholders lost a GAAP loss of $5.46 per share. Quarterly revenue was $15.2 billion, a 31 percent decrease from the year before.
It was, despite the strike and its already large backlog, able to deliver 348 commercial aircraft this year, while the fourth quarter delivered 57, a stark drop from the 157 it delivered in the fourth quarter of 2023. This drop has significant impact on the aviation industry: travelers could see air prices climb this year as demand continues to grow without the capacity for airlines to expand with the aircraft they're still waiting on.
"We made progress on key areas to stabilize our operations during the quarter and continued to strengthen important aspects of our safety and quality plan," said Kelly Ortberg, Boeing president and chief executive officer. "My team and I are focused on making the fundamental changes needed to fully recover our company's performance and restore trust with our customers, employees, suppliers, investors, regulators and all others who are counting on us."
For seven weeks beginning in September, an estimated 33,000 Boeing workers walked off the job to strike, demanding better working conditions and wages. While the strike ended with workers and the company finding common ground with a 38 percent pay increase and $12,000 bonus, Boeing still planned to lay off 10 percent of its workforce.
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