By the Associated Press:
Boeing is reporting a loss of $2.4 billion for the second quarter, and it will slow production and cut more jobs as the airplane market gets battered by the coronavirus outbreak.
Boeing said Wednesday it now expects the airline industry will take longer to recover from the pandemic. For Boeing, the pandemic is compounding problems that began with its 737 Max airliner, which remains grounded after two crashes killed 346 people.
Chicago-based Boeing is being held together by its defense and space business, which depends on contracts with governments and has been largely insulated from the pandemic.
Boeing’s troubles are expected to be felt in Wichita, where Spirit Aerosystems recently announced voluntary layoffs to its Wichita managers as well as employees represented by the Wichita Technical and Professional Unit. This comes as a result of decreased demand for commercial aircraft and the continued stall of the 737 MAX. Participants of the voluntary layoff program will receive a lump-sum severance payment.
