New York
CNN
—
Boeing reported a $650 million operating loss in the fourth quarter, surprising Wall Street analysts who had expected the aircraft giant to turn a profit.
The company blamed the unexpected loss on “abnormal production costs” as it tried both to deliver the remaining backlog of 737 Max jets and to step up deliveries of the 787 Dreamliners. The company’s production of the 787 remains below normal rates.
“We continue to face a few too many stoppages in our lines … as we run into supply chain shortfalls,” CEO Dave Calhoun told investors Wednesday. “So those stoppages, while they are coming down, are not where they need to be.”
What’s more, Boeing had to shell out an unspecified amount of compensation to 787 customers whose deliveries were delayed by about a year.
The company also…