Health

Boeing records $11.9 billion loss in 2020

New York, Jan 27 (efe-epa).- Aviation giant Boeing recorded a net loss of $11.9 billion in 2020 due to the impact of coronavirus pandemic as well as the 737 Max safety crisis, the company reported Wednesday.

The turnover rate of Boeing fell by 24 percent year-on-year, to $58.2 billion, while the operating cash flow was negative $18.4 billion, data that reflects worst aircraft deliveries in years and the cancellations it suffered in past months.

“2020 was a year of profound societal and global disruption which significantly constrained our industry. The deep impact of the pandemic on commercial air travel, coupled with the 737 MAX grounding, challenged our results,” Boeing CEO David Calhoun said in a statement.

In 2019, the aviation giant swung to a net loss of $636 million. EFE-EPA

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