Boeing records $2.31 billion reach-forward losses on tanker program over 3 years
(Reuters) - Boeing said on Friday it had recorded reach-forward losses of $2.31 billion related to the U.S. Air Force KC-46A tanker program over 2016, 2017 and 2018.
The planemaker said in a filing that in 2018, it had recorded reach-forward losses of $736 million on the contract, reflecting higher estimated costs related to certification, flight testing and change incorporation on aircraft, among other things.
The U.S. Airforce recently accepted the long-delayed first delivery of the KC-46 tanker jet made by Boeing. The delays and fixes for the program have been costly for Boeing and the company had recorded charges on the tanker program.
Reporting by Divya R in Bengaluru; Editing by Anil D'Silva