Boeing posts sixth consecutive quarterly loss

Boeing reported a quarterly loss per share of $1.53, wider than the loss of $1.16 per share expected by analysts, while revenues actually came in at $15.22bn, ahead of an anticipated print of $15.02bn.

Boeing had a net loss of $561.0m for the first three months of 2021, partly due to a $318.0m pre-tax charge related to issues with an Air Force One supplier.

The company, which has struggled as a result of the Covid-19 pandemic's impact on travel and jetliner demand, as well as the extended grounding of its best-selling 737 Max aircraft following two fatal crashes that killed 346 people, said demand for new planes had ticked higher early on in 2021 amid a rebound in travel.

Boeing also reiterated its guidance to increase production of its 737 Max plane to 31 a month in early 2022.

Chief executive Dave Calhoun said: "While the global pandemic continues to challenge the overall market environment, we view 2021 as a key inflection point for our industry as vaccine distribution accelerates and we work together across government and industry to help enable a robust recovery."

As of 1300 BST, Boeing shares were up 0.083% at $240.70 each.