Boeing posts surprise profit as aircraft demand rebounds from pandemic slump

Boeing reported its first quarterly profit in almost two years on Wednesday, boosted by a surge in deliveries of commercial jetliners as airlines began recovering from a pandemic slump and higher sales in the company’s other divisions. The plane manufacturer snapped six consecutive quarters of losses, swinging to a profit of $567m for the second quarter from a net loss of $2.96b in the quarter a year ago as air travel was plunging early in the pandemic. Revenue rose 44% to nearly $17b from $11.8b a year earlier, beating analyst estimates of $16.54b. “While we still have a ways to go before a full rebound, it is encouraging to see the commercial market improving, enabled by continued vaccine distribution and increasing travel demand, particularly in domestic markets,” CEO Dave Calhoun said in an employee memo Wednesday. “Going forward, we will closely monitor case rates, vaccine distribution, travel protocols and global trade as key indicators for recovery.”<br/>