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Boeing’s quarterly turnover decreased 26% year-over-year to $ 16,908 million, while operating cash flow was negative, with expenses in the amount of $ 4.3 billion, as its customers, mainly airlines affected by the collapse of traffic By air, it delayed its purchases, which had an impact on deliveries and postponed the maintenance and recovery of the equipment.
David Calhoun also said that the “fundamental principles” on which air travel has been based for five decades and that allowed air traffic to double in the last two decades “remain intact”, but he predicts that it will take “two or three years to return to levels. ” of 2019 and a few more years for the sector to return to the long-term trend. ”
The company took steps to confront the “new market reality,” after abandoning the share buyback and dividend distribution and applied for a long-term loan in the amount of nearly $ 14 billion.
This week, Boeing dropped a deal with Brazil’s Embraer that would cost it about $ 4.2 billion.
Globally, according to a report by the AFP news agency, the covid-19 pandemic has already claimed more than 217,000 deaths and infected more than 3.1 million people in 193 countries and territories.
Almost 860,000 patients were considered cured.
The disease is transmitted by a new coronavirus detected in late December in Wuhan, a city in central China.
To combat the pandemic, governments sent 4.5 billion people home (more than half the world’s population), ended non-essential trade and dramatically reduced air traffic, paralyzing entire sectors of the world economy.
With the decline in new patients in intensive care and contagion, some countries have begun to develop plans to reduce confinement and, in some cases, to alleviate various measures.
