Boeing’s $3.9bn cash burn adds urgency to revival plan

Boeing chief executive Dave Calhoun plans to step down later this year.

Boeing burned through $3.93bn (€3.67bn) in cash in the first quarter, a less dramatic drain than analysts had predicted, as the embattled plane maker continues to slow output to get a handle on its manufacturing issues.

The company reported revenue of $16.57bn in the first three months, according to a statement which didn’t provide earnings guidance for the year. Boeing’s first three months of the year have been overshadowed by the fallout from a near-catastrophic accident on January 5 that’s upended the company’s manufacturing, financials and management.