Grounded jet sends Boeing to first annual loss in 2 decades

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(Photo by Stephen Brashear/Getty Images)

Boeing is reporting its first annual loss in more than two decades as the crisis surrounding its grounded 737 Max drags on. Boeing said Wednesday that it lost $1 billion in the fourth quarter and lost $636 million last year. The company is sharply raising its estimate of spending related to fixing the Max and compensating airlines for canceling tens of thousands of flights. Boeing is now estimating the Max-related extra costs at more than $18 billion. The company still hopes to get FAA approval for changes it’s making to the Max around mid-year.

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