Boeing Co on Wednesday posted its first quarterly profit in almost two years as revived domestic travel fueled 737 MAX deliveries, and shares rose 5 percent despite festering U.S.-China relations and depressed long-haul travel. The 737 MAX is integral to Boeing’s financial recovery. The U.S. planemaker is scrambling to recoup billions of dollars in lost sales from the pandemic and move beyond the safety scandal caused by two fatal 737 MAX crashes. It also must deal with structural defects of its bigger, more profitable 787 planes. Higher defense and services sales boosted results and Boeing still expects to turn cash flow positive in 2022. Shares were up roughly 5 percent at $234 in afternoon trading even as the Dow Jones Industrial Average dipped. Chief Executive Officer David Calhoun told employees in a message that Boeing plans maintain stable staffing with a workforce of around 140,000. Previously the company had targeted …
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