Boeing Posts Massive $12 Billion 2020 Loss as Pandemic Takes Its Toll

Boeing (NYSE: BA) on Wednesday said it lost almost $12 billion in 2020 and further delayed the debut of its 777X jet, a fresh reminder that the issues that plagued the company last year will not be resolved easily. The global pandemic sapped demand for air travel and devastated airlines, reducing demand for new planes. Boeing also spent most of the year dealing with the grounding of its 737 MAX, which was only cleared to returned to service late in 2020 after nearly 20 months out of service.