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Boeing losses mount as it outlines $1.2bn hit from Ukraine war and supply woes

Shares fall 8% after chief executive flags ‘messy quarter’ for aerospace group’s defence business

Boeing said its losses widened in the first quarter as it took a $1.2bn hit tied to the war in Ukraine and charges within its defence, space and security segment stemming from its Air Force One replacement programme.

The aerospace group reported a net loss of $1.24bn, or $2.06 a share, compared with a narrower loss of $561mn, or 92 cents a share, in the year-ago period.

Chicago-based Boeing recorded a $212mn pre-tax charge because of “near-term challenges” stemming from the Ukraine war.

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