{"text":[[{"start":9.8,"text":"Boeing delivered more planes than its European rival Airbus in a quarter for the first time since 2023, helping the US aerospace group to a 14 per cent rise in revenues for the first three months of the year. "}],[{"start":22.35,"text":"The aircraft maker on Wednesday reported first-quarter revenues of $22.2bn, up from $19.5bn over the same period last year, as it continues to make progress in its lengthy turnaround campaign. A $7mn loss for the quarter compares with a $31mn first-quarter loss last year, beating analysts’ estimates."}],[{"start":43.3,"text":"Boeing delivered 143 commercial aircraft to customers in the first three months of this year, up 10 per cent on 2025. It shipped 29 more jets than Airbus, its widest lead since 2018, as its rival struggled with supply-chain bottlenecks, particularly engine shortages. "}],[{"start":62,"text":"Revenue at Boeing’s defence, space and security division rose 21 per cent, buoyed by a surge in global defence spending. The company’s shares closed 5.5 per cent higher on Wednesday."}],[{"start":75.2,"text":"The company has been dogged since 2018 by the fallout from two deadly crashes in Indonesia and Ethiopia involving the 737 Max jet, as well as an incident in January 2024 when a door plug on an Alaska Airlines 737 Max blew out in mid-air."}],[{"start":91.9,"text":"But chief executive Kelly Ortberg, who took over in August 2024, has since shored up Boeing’s finances, improved industrial relations and stabilised 737 Max production. Investors closely monitor production as a crucial source of cash. "}],[{"start":108.45,"text":"Jay Malave, Boeing’s chief financial officer, said the company expects to generate $1bn-$3bn in free cash flow in 2026, adding that longer term a target of $10bn was “very attainable”. "}],[{"start":123.25,"text":"Scott Mikus, an analyst with Melius Research, said the delivery numbers point to “meaningful progress in Boeing’s turnaround and suggests the production ramp is translating into aircraft deliveries — the metric that ultimately drives revenue and cash flow”."}],[{"start":138.6,"text":"Ortberg on Wednesday said Boeing was on track to meet its full-year delivery goals for the best-selling 737 Max, despite a wiring issue that held up some deliveries. "}],[{"start":148.79999999999998,"text":"“To be clear, the wiring issue will not affect our full-year delivery goals or plan to increase to 47 a month this summer,” Ortberg told analysts on a call. The company is currently producing 42 jets a month. "}],[{"start":161.7,"text":"Ortberg said the company remained on course to receive certification for its new 737-7 and 737-10 aircraft variants by the end of the year. "}],[{"start":171.95,"text":"The company has in recent months benefited from a flurry of new aircraft orders. Ortberg said he was hopeful an upcoming summit between President Donald Trump and China’s leader Xi Jinping would result in additional orders for the manufacturer, telling analysts it had the potential to be a “big number”. "}],[{"start":191.25,"text":"Ortberg said the company expected an uptick in its defence business from higher military spending. This month, it signed a seven-year framework with the Pentagon to produce seeker sensors for the Patriot missile system. The deal was part of US government efforts to use longer-term agreements to give companies the confidence to expand defence industrial capacity."}],[{"start":212.3,"text":"The Iran war has led some analysts to speculate that Boeing’s commercial airliner business could suffer as airlines cut flights following a sharp rise in jet fuel prices."}],[{"start":222.15,"text":"Ortberg said the company had seen no impact from the conflict on its business. Boeing delivered four jets in the region in the quarter. "}],[{"start":230,"text":"Mikus said a prolonged period of high jet fuel prices could benefit Boeing and Airbus as airlines accelerate the retirement of older jets in favour of new more fuel-efficient planes."}],[{"start":249.25,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1776914841_6896.mp3"}