Boeing loss widens on Air Force One
The US aircraft manufacturer posted a net loss of $428 million for the second quarter, compared with a larger loss in the same period last year
ATT Desk Report 
Boeing reported a wider-than-expected quarterly loss on Tuesday after recording additional costs related to the programme to deliver two new US presidential aircraft, although the aerospace giant said stronger revenue reflected continued progress in its recovery efforts.
The US aircraft manufacturer posted a net loss of $428 million for the second quarter, compared with a larger loss in the same period last year. However, the result was better than analysts' expectations.
Quarterly revenue rose 8 percent year-on-year to $24.6 billion, driven by improved performance across its commercial aircraft, defence and services businesses.
The company said the latest financial hit was largely due to additional charges associated with modifying two Boeing 747-8 aircraft into the next generation of Air Force One aircraft for the US government. The high-profile programme has faced repeated delays and escalating costs in recent years.
Despite the loss, Boeing said it continued to make progress in stabilising operations and increasing aircraft production following a series of manufacturing and safety challenges that have weighed on the company in recent years.
The results come as Boeing works to restore profitability by increasing commercial jet deliveries, improving production quality and strengthening its financial position.
Investors are closely monitoring the company's recovery after years of setbacks, including supply chain disruptions, certification delays and cost overruns on fixed-price defence contracts.
