Boeing hit with $5bn in penalties as new jet delayed
OCT 30 - Aircraft giant Boeing has suffered another setback as it announced production of its much anticipated 777X planes would now be pushed to 2027, Kenya breaking news | Kenya news today |..
✨ Key Highlights
Boeing faces a significant financial blow as delays in its new 777X aircraft production will cost the company $5 billion in late delivery penalties. The anticipated delivery date for the 777X has been pushed back to 2027 due to regulatory hurdles, despite a surge in international travel demand.
- Penalties for the 777X delays will total $5 billion (£3.7 billion), with cumulative charges reaching almost $15 billion (£11.3 billion).
- Kelly Ortberg, chief executive, expressed disappointment over the delay but noted strong performance in flight testing.
- The delay comes amid efforts by Boeing to "restore trust" and stabilize operations following past incidents, regulatory scrutiny, and staff strikes.
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Microsoft and Equity Group Report Profit Growth; Boeing Faces $5bn Penalty for Delays - October 2025
Microsoft reported strong financial results for its first fiscal quarter of 2026, with significant increases in revenue and net income that exceeded expectations. The growth was largely driven by its cloud and AI initiatives, as highlighted by CEO Satya Nadella. Similarly, Equity Group's net profit rose 32 percent to Sh54.1 billion in the third quarter. In contrast, Boeing is set to face a $5 billion financial blow in penalties due to production delays of its new 777X aircraft. The anticipated delivery for the jet has been pushed back to 2027 because of regulatory hurdles.
