Boeing Suffers Massive $11.9 Billion Loss in 2020, Largest in its History | Seattle RE Podcast

Hit both by the grounding of the 737 MAX and the global pandemic that paralyzed its airline customers, Boeing suffered a massive net loss last year of $11.9 billion, the largest in its history.

In a message to employees Wednesday morning, chief executive Dave Calhoun called 2020 “a year of profound societal and global disruption, which significantly impacted our industry.”

The loss was amplified by a $6.5 billion write-off on the 777X program.

And the company reported $1.8 billion in additional accounting charges, including write-offs for the 737 MAX, the KC-46 Air Force tanker and the recent settlement of fraud charges with the Department of Justice, financial filings released Wednesday show.

Join your host Sean Reynolds, owner of Summit Properties NW and Reynolds & Kline Appraisal as he takes a look at this developing topic.

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