Boeing posts $4.16 billion loss on problems with its 787 jet

Boeing is reporting a fourth-quarter loss of $4.16 billion after taking a big charge against earnings to cover delays in delivering one of its jets to airline customers

Boeing is reporting a $4.16 billion loss for the fourth quarter as the financial fallout from production flaws in one of its best-selling planes keeps getting worse.

The aircraft maker took a charge of $3.5 billion to cover additional delays in delivering copies of its 787 jetliner and compensation for airlines that are still waiting to get their planes.

The company also said problems with the 787 will add $2 billion in unusual production costs, double the earlier projection.

Deliveries of new 787s were halted in May 2021 because of production flaws including gaps where panels of the carbon-composite fuselage are joined. Boeing has been unable to come up with a fix that satisfies the Federal Aviation Administration.