Boeing stock jumped 3.5 percent in premarket trading.
“Our first quarter results reflect the immediate actions we’ve taken to slow down 737 production to drive improvements in quality,” Boeing president and chief executive Dave Calhoun said in a news release.
It’s the seventh consecutive quarterly loss for the embattled jet maker. Since the Jan. 5 blowout on an Alaska Airlines flight, the Federal Aviation Administration has repeatedly found lapses in Boeing’s production quality and has barred the company from increasing its output. Boeing’s chief of commercial airlines, Stan Deal, stepped down. Calhoun plans to leave by the end of the year.
This is a developing story and will be updated.