Boeing grounded by loss

Aerospace giant Boeing has plunged to its first quarterly loss in nearly seven years following a string of hefty charges.

The Chicago-based firm slumped to a $234 million (£178m) loss in the second quarter.

It faced write-downs totalling $3 billion (£2.3bn) linked to two of its newest commercial jets and a military fuel tanker.

It last posted quarterly losses in the third quarter of 2009.

Revenues rose 1% to $24.8bn (£18.9bn) in the period thanks to “strong commercial deliveries and services growth”.

Malaysia Airlines agreed to buy up to 50 Boeing Max planes in a $2.75bn (£2.1bn) deal.