Boeing Sees 51% Year-On-Year Drop In Earnings

Boeing is still struggling to recover from two crashes of its flagship 737 MAX and the aerospace giant reported a 51 percent slide in third quarter earnings. The company's revenue fell 20 percent though that wasn't as bad as analysts feared due to strong sales in the defense and space sectors. Net earnings amounted to $1.167 billion compared to $2.36 billion in the same quarter last year.

The world's largest planemaker said it still expects the 737 MAX to return to the air by the end of the year. Some investors expected Boeing to cut production of the 737 MAX but it is still building 42 per month and it expects that to rise to 57 per month by the end of next year. Amid the current uncertainty, it is however planning to decrease monthly production of the 787 Dreamliner, reducing it to 12 per month by the end of next year.