Boeing takes near $5 billion hit on 777X program

Boeing reported a charge of nearly $5 billion related to delays in its 777X jet program on Wednesday, but its quarterly loss narrowed on improved production and deliveries of commercial aircraft.

Despite progress on the 737 MAX, the planemaker continues to face setbacks with its 777X program. It said on Wednesday the first delivery of the 777X has been pushed to 2027, delaying the timeline further from the previously expected 2026 launch.

The aircraft was originally slated for delivery in 2020 when the program was launched in 2013.