Boeing racks up $329m more for its troubled KC-46 tanker programme
Bengaluru — Boeing racked up a further $329m charge for its troubled KC-46 Pegasus military aerial refueling tanker programme in quarterly results on Wednesday, paring gains in profit margins compared to a year ago. The world’s biggest maker of jetliners raised its full-year earnings and cash flow forecasts as it beat forecasts for earnings per share and reported margins rising in its main commercial airlines segment and overall business. However, the latest losses on the air tanker programme, which some analysts had speculated could come back to haunt Boeing despite assurances to the contrary earlier this year, helped prod the company’s shares marginally lower in pre-market trade. Boeing shares are still up almost 70% this year. "The overall result is very close to our expectations with only a small change to the full year guidance," analysts from research house Vertical Research Partners said in a note on the results. "[It is a] modest increase to 2017 guidance." The costs of the ...
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