Boeing posts first loss in 7 years

Boeing, absorbing billions in writedowns related to two of its newest commercial jets and a military fuel tanker, reported its first quarterly loss in nearly seven years. Yet revenue for the Chicago aerospace giant rose one per cent to US$24.8 billion. Charges totalled US$3 billion before taxes. It also lowered its full-year earnings to the range of US$6.10 and US$6.30 per share, from US$8.15 and US$8.35. The revenue outlook remains the same at US$93 billion to US$95 billion.