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Boeing Swings To Loss In First Quarter As COVID Slams Company; KC-46 Suffers More Charges

Cal Biesecker By
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Boeing Swings To Loss In First Quarter As COVID Slams Company; KC-46 Suffers More Charges
Boeing President and CEO Dave Calhoun. Photo: Boeing

As expected, Boeing [BA] took a wallop in its first quarter as a global economic hardship from the COVID-19 gouged first quarter financial results, mainly in its commercial businesses, but even the defense segment reported top and bottom line declines. The KC-46A aerial refueling tanker being developed and built for the Air Force took an $827 million pre-tax charge, with $551 million stemming from costs related to an agreement with the service earlier this month to develop and integrate a…

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