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| Design changes cause Boeing loss | Design changes cause Boeing loss |
| (about 3 hours later) | |
| Aircraft maker Boeing has blamed a third-quarter net loss of $1.6bn (£974m) on rising production costs and poor market conditions. | Aircraft maker Boeing has blamed a third-quarter net loss of $1.6bn (£974m) on rising production costs and poor market conditions. |
| 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 steeper-than-anticipated loss has led the company to cut its profit forecast for 2009. | The steeper-than-anticipated loss has led the company to cut its profit forecast for 2009. |
| Shares in the firm fell 2.4% to $50.64 after the figures were announced. | Shares in the firm fell 2.4% to $50.64 after the figures were announced. |
| The loss compares with a profit of $695m made in the same period a year earlier. | The loss compares with a profit of $695m made in the same period a year earlier. |
| It is clear now that the board of Boeing must ask Jim McNerney to leave as CEO. Douglas McIntyre24/7 Wall Street | |
| 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. | 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. | 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. | Boeing also said that it would postpone the first flight of the freighter version of the 747-8 to 2010. |
| Reacting to the news, some analysts are calling for the company to take drastic action. | |
| "It is clear now that the board of Boeing must ask Jim McNerney to leave as CEO," said Douglas McIntyre at 24/7 Wall Street. | |
| The Chicago-based company has 840 orders for the 787, from 55 customers. | |
| Boeing delivered 113 aircraft during the third quarter, a 35% increase from a year ago. |