Boeing tripled its net losses to 7,968 million dollars (7,398 million euros) between January and September, 260% more than the 2,212 million dollars (2,053 million euros) of the same period in 2023, due to the impact of the strike of 33,000 workers in Seattle (USA), according to Europa Press.
This same Wednesday, striking employees will vote whether or not to accept the company’s proposal to raise salaries by 35% after almost a month and a half of a protest that has ended up weakening the structure of the aeronautical giant. Specifically, the pre-agreement, reached this Monday, includes a 35% increase spread over four years, a guaranteed annual bonus of 4% and an additional bonus of 7,000 dollars (6,449 euros) if it is finally accepted.
In this context, the manufacturer’s CEO, Kelly Ortberg, has admitted that “it will take time to return Boeing to its old legacy, stating that, with the “right” approach and culture, it can once again be “an iconic company and a leader.” aerospace”. “Going forward, we will focus on fundamentally changing the culture, stabilizing the business and improving program execution, while laying the foundation for Boeing’s future,” he added in a statement.
Income drop
Boeing’s turnover decreased by 8% compared to the first nine months of 2023, reaching $51,275 million (€47,612 million). In addition, operating cash flow recorded a negative result of 8,630 million dollars (8,013 million euros), reflecting a decrease in commercial deliveries, as well as the unfavorable calendar of working capital, including the impact of the work stoppage in Seattle.
On the other hand, consolidated debt fell to 57,700 million dollars (53,582 million euros) in the third quarter, compared to 57,900 million dollars (53,768 million euros) as of June 30.
In this month of October, the company signed a new short-term credit line of 10,000 million dollars (9,285 million euros) and now has access to a total of credit lines of 20,000 million dollars (18,571 million euros), that remain unused.
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