Dreamliner delays drag down Boeing’s quarterly earnings.

Boeing said Wednesday that delays in making and delivering its troubled 787 Dreamliner jet will cost the company about $1b, weighing the company down even as it benefits from a broad travel resurgence. The company provided the estimate as part of its Q3 earnings report, which showed that Boeing lost $132m in the three months ending in September, a loss of 19 cents per share. Boeing earned $15.3b in revenue in the quarter, up about 8% from the same period last year and just below analyst expectations. “Our commercial market is showing improved signs of recovery with vaccine distribution and border protocols beginning to open,” David Calhoun, Boeing’s CE, said in a letter to employees. Quality concerns have dogged the Dreamliner for more than a year. Boeing had paused deliveries of the plane briefly last year and again in May. In July, it said that it was slowing production of the plane and, this month, Boeing suffered another setback when a supplier told the company that certain parts it provided were made with the wrong titanium alloy. The company said it was continuing to carry out inspections and work on the plane in collaboration with the FAA and that it had cut production to about two Dreamliners per month. After deliveries start up again, Boeing expects to increase production to five per month. “Although this effort lowered revenue in the quarter and drives increased expenses, these actions are essential to bolstering the long-term health of the program and are preparing us for sustained growth and success as market demand returns,” Calhoun said in his letter.<br/>