We're making our final checks and are on track for today's first flight of the #777X. Join our live broadcast sta t.co/TAsfztjLpg. Boeing Airplanes. Our #777X is ready to fly tomorrow, subject to weather and other factors. Our live broadcast will begin at 9:25 a.m. The biggest jet engines ever seen are now hanging from the longest wings on any Boeing plane. Ahead of the new 777X jet's rollout, Boeing offered a first look at its jaw-dropping GE-9X engines. Boeing set to live stream first B777X flight 24 Jan 2020 by Jenni Reid Boeing's latest aircraft, the B777X, is due to take to the skies for the first time today. The maiden flight had been planned.
Boeing closed the books on a bruising 2020 by announcing another unpleasant surprise on Wednesday: a $6.5-billion hit from delays to its new 777X plane that exacerbated the aerospace giant's annual loss.
Boeing, which saw its revenues ravaged by the commercial airline downturn sparked by the COVID-19 crisis and the 20-month grounding of its 737 MAX model, now expects first deliveries of the wide-body 777X in late 2023, compared with the earlier timetable of 2022.
The accounting for the 777X prolongation pushed Boeing's fourth-quarter loss to $8.4 billion, plunging its tally for all of 2020 to $11.9 billion in the red, its biggest ever annual loss.
Boeing 777x Test Flight
The past year was one of 'profound societal and global disruption which significantly constrained our industry,' said Chief Executive Dave Calhoun.
Boeing 777x Live
'The deep impact of the pandemic on commercial air travel, coupled with the 737 MAX grounding, challenged our results.'
In light of radically worsened market conditions, Boeing has taken a hacksaw to costs, announcing job cuts of some 30,000 employees over two years.
777x Live Stream First Flight
The company also completed a $25-billion bond offering to provide liquidity to ride out the downturn.
Boeing executives emphasized that they expect a long-term recovery in travel demand, but reiterated that it will take about three years for activity to return to pre-pandemic levels.
They cautioned that profit margins will be under pressure until demand returns and the company is able to ramp up plane production.
'I'm quite optimistic,' Calhoun said in a conference call with analysts.
The company also completed a $25-billion bond offering to provide liquidity to ride out the downturn.
Boeing executives emphasized that they expect a long-term recovery in travel demand, but reiterated that it will take about three years for activity to return to pre-pandemic levels.
They cautioned that profit margins will be under pressure until demand returns and the company is able to ramp up plane production.
'I'm quite optimistic,' Calhoun said in a conference call with analysts.
'There's nothing about the market right now that has me switched off on that, but we are talking about 2023. It's going to take that long for us to sort of work our way out of the COVID world.'