Boeing reports Q3 loss

Troubles with the 787 jet and a delayed NASA test launch were a drag on Boeing in the third quarter, resulting in another loss reported Wednesday as the aviation giant struggles to fully recover from earlier stumbles.

The company had posted a profit in the second quarter after six straight losses, but wound up back in the red in the three months ending September 30 with a net loss of $132 million.

Major drivers were expenses tied to the 787 problems and one-time costs associated with the delayed test flight of the CST-100 Starliner capsule.

Those are the latest setbacks for Boeing, which navigated an existential crisis in early 2020 when the downturn in aviation due to Covid-19 added to the hit from the lengthy grounding of its 737 MAX.

Chief Executive David Calhoun told CNBC he was an “optimist,” and aims to enter 2022 “with a decent trajectory” as the aviation industry recovery accelerates. Revenues rose eight percent to $15.3 billion in the latest quarter, reflecting the benefit from returning deliveries of the 737 MAX.