In terms of production, Boeing delivered a total of 348 aircraft in 2024, a 34% decrease compared to the previous year and the lowest figure since 2021. This reduction was due in part to production cuts following the aforementioned safety incident and strike.
The company's revenues were down 14% from the previous year, reaching 66,517 million dollars. Operating cash flow was also negative, registering an outflow of 12,080 million dollars, reflecting both the decrease in commercial deliveries and the financial impact of the labor strike.
In response to these challenges, Boeing implemented a restructuring plan that included a 10% reduction in its workforce, equivalent to approximately 17,000 employees. In addition, the company undertook a $24 billion capital increase to strengthen its financial position and address accumulated losses.
Kelly Ortberg, who took over as president and CEO in August 2024, said progress has been made in stabilizing operations and strengthening safety and quality measures. Ortberg emphasized the company's commitment to making the fundamental changes necessary to regain performance and restore the confidence of customers, employees, suppliers, investors and regulators.
Despite these efforts, Boeing has accumulated more than $35.5 billion in losses over the past six years, underscoring the magnitude of the challenges facing the company. In 2024, the company burned $14.31 billion in cash, reflecting ongoing difficulties in its cash flow.
In comparison, its main competitor, Airbus, delivered 766 aircraft and received 826 net orders in the same period, significantly outperforming Boeing on both indicators. This disparity highlights the growing gap between the two companies in the commercial aviation market.
Looking ahead, Boeing plans to ramp up production of the 737 in 2025 and anticipates generating positive cash flow in the second half of the year. However, the company did not provide specific financial guidance for 2025, indicating caution in the face of lingering market uncertainties and internal challenges that still need to be addressed.