Boeing burnt through almost $4bn of cash in the first quarter, reflecting slower 737 Max production and compensation to customers as the US plane maker grappled with the aftermath of the mid-air accident in January.
The $3.9bn of free cash outflow is slightly lower than the $4bn-4.5bn the company had warned in March, but compares with an outflow of $786mn for the same period last year. Boeing reported a $355mn net loss in the first quarter.
The company’s financial results “reflect the immediate actions we’ve taken to slow down 737 production to drive improvements in quality”, said chief executive Dave Calhoun.
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