Boeing Reports $6.1 Billion Loss Amid Strike

Boeing has reported a significant third-quarter loss of $6.1 billion, driven by a machinists' strike and charges related to its commercial aircraft and defense programs. The company faces a cash outflow of $1.3 billion, contrasting with an inflow the previous year, and is considering asset sales to bolster finances. CEO Kelly Ortberg, who took over in August, has outlined a strategy to transform Boeing's culture, stabilize operations, and improve execution discipline. Ortberg is also focused on resolving the strike by 33,000 machinists, with a tentative labor contract offering a 35% pay increase over four years. Boeing's financial challenges are exacerbated by its intent to raise up to $25 billion through debt or equity offerings and a supplemental $10 billion credit agreement. The outcome of the union vote on the new contract, which includes ratification bonuses and enhanced retirement contributions, is crucial for Boeing's turnaround efforts.