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Search resuls for: "Abhijith Ganapavaram Rajesh Kumar Singh"


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Oct 26 (Reuters) - Boeing Co's (BA.N) ailing defense business on Wednesday recorded a $2.8 billion charge, but the U.S. planemaker stuck to its forecast of generating cash this year despite struggling to raise commercial jet production due to labor and supply shortages. The planemaker said it took charges on its Air Force One and refueling tanker program, among others. "Our revenue and earnings were significantly impacted by losses on fixed-price development programs in our defense business, driven by higher estimated manufacturing and supply chain costs," Boeing Chief Executive Dave Calhoun said in a message to employees. Boeing has appointed a senior troubleshooter Steve Parker to help turn around loss-making programs in its defense unit, Reuters reported on Tuesday. Demand at the global services business that provides spare parts and services such as jet conversions was a bright spot in the quarter through September, with revenue rising 5%.
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