Fresh Delays - Business Outrank

The 777X program at Boeing faces another major delay because the company extended its first delivery date to 2027 while taking a $5 billion financial hit. The 777X serves as Boeing's flagship aircraft following the 747 and 777 because it has encountered multiple years of certification and production problems which have raised its total expenses to $15 billion. The wide-body jet market now leads Airbus because Airbus launched its A350 model before Boeing could deliver the 777X. Boeing CEO Kelly Ortberg confirmed that the jet needs additional work for flight test certification despite reaching more than 4,000 test hours. The new charge exceeds all analyst predictions while creating doubts about potential future surprises. Boeing achieved better financial results through its defense unit which generated higher-than-expected revenue while showing $238 million in positive cash flow during this quarter. The ongoing quality problems and supply chain breakdowns and ongoing certification problems at Boeing create major obstacles for its recovery plan which makes the 777X delay a major setback for the company's future growth.

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