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Boeing reports third-quarter loss | |
(31 minutes later) | |
Boeing has announced worse than expected third-quarter figures, reporting a net loss of $1.6bn (£974m). | |
The loss at the world's second-largest plane maker compared with a profit of $695m a year earlier. | |
The latest results reflect charges incurred to modify Boeing's 787 Dreamliner and the new updated version of its 747 jumbo jet. | The latest results reflect charges incurred to modify Boeing's 787 Dreamliner and the new updated version of its 747 jumbo jet. |
The loss was steeper than anticipated and has led to the company cutting its profit forecast for 2009. | |
Shares in the firm dropped 2.4% to $50.64 in pre-market trade after the loss was announced. | |
In August, Boeing said it would take a charge of $2.5bn because the first three test Dreamliners were undergoing so much modification that they had no commercial market value. | |
The company then added a $1bn charge for higher costs and lower demand than it expected for the 747-8. | |
Boeing also said that it would postpone the first flight of the freighter version of the 747-8 to 2010. |