Boeing posts $1.24 billion loss for the first quarter

By DAVID KOENIG
AP Airlines Writer

Boeing is reporting a money-losing quarter as both its civilian-airplane division and the defense business are struggling. Boeing said Wednesday that it lost $1.24 billion in the first quarter and took large write-downs for several programs. The loss was worse than Wall Street expected, and Boeing’s quarterly revenue also fell short of expectations. Boeing is trying to offer investors some hope, however. The company says it has submitted plans to resume deliveries of its 787 airliner, which has been beset with production problems. The company is also seeing more production and deliveries of the 737 Max.