Seattle Boeing swung to a fourth-quarter profit on Tuesday, driven by the sale of its digital aviation services provider, as well as rising jet output and stronger deliveries.
Losses in its two biggest divisions were bigger than expected, however, and shares dropped. The company also recorded a 565m charge on its KC-46 aerial-refuelling tanker programme due to higher estimated production support and supply chain costs.
The sale of Jeppesen for 10.6bn covered operating losses in Boeings commercial and defence divisions. The company continued to increase output of its two most popular jets the 737 MAX and 787 and posted positive free cash flow, a metric closely watched by investors.
