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Boeing's recovery from losses in its defense business will take a long time
On Wednesday, Boeing Co. warned about the extended time for its recovery from a disastrous crisis in security and economics. This was reported by Reuters. Earlier, the company obtained $2.8 billion in loss-making defense contracts, resulting in a sharp drop in its stock.
Chief Financial Officer Brian West held a telephone conversation about profits and losses. He said that the recovery path for the company will take longer than it was planned because of the difficult macroeconomic situation.
The U.S. aircraft maker said that improvements in deliveries are not expected in the near future and will continue over the next year.
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