<a href="https://www.thenationalnews.com/business/aviation/2023/01/18/boeing-backed-aerospace-xelerated-selects-digital-services-start-ups-to-join-accelerator/" target="_blank">Boeing</a><a href="https://www.thenationalnews.com/business/aviation/2022/10/22/boeing-may-face-new-charges-as-families-of-737-max-crash-passengers-ruled-crime-victims/"> </a>posted a $663 million net loss in its fourth-quarter due to higher on production costs and supply-chain problems despite strong revenue. The US <a href="https://www.thenationalnews.com/business/aviation/2023/01/01/boeing-shares-surge-most-in-40-years-amid-turnaround-plans/" target="_blank">plane maker </a>narrowed its loss in the three month-period to the end of December from about $4.1 billion in the same period a year earlier. The company’s loss per share in the fourth quarter was reduced to $1.06 from $7.02 in the same period in 2021. Total company backlog at quarter-end stood at $404 billion. Boeing's revenue jumped 35 per cent annually to almost $20 billion in the quarter, it said in a statement on Wednesday. “We had a solid fourth quarter and 2022 proved to be an important year in our recovery,” said Dave Calhoun, Boeing's president and chief executive. “Demand across our portfolio is strong, and we remain focused on driving stability in our operations and within the supply chain to meet our commitments in 2023 and beyond.” The company’s stock dropped almost 1.6 per cent, trading at $208.83 a share on Wednesday. The operating cash flow improved to more than $3.4 billion in the quarter, from $716 million in the prior year period, reflecting “higher commercial deliveries and timing of receipts and expenditures”. The commercial plane division’s fourth-quarter revenue increased 94 per cent annually to more than $9.2 billion, driven by higher 737 and 787 deliveries. The unit delivered 152 planes during the quarter and backlog included more than 4,500 planes valued at $330 billion. The company said its 737 programme is stabilising its production rate at 31 per month, with plans to increase production to about 50 per month in the 2025-2026 timeframe.<b> </b>The 787 programme continues at a low production rate, with plans to ramp up production to five per month in late 2023 and 10 per month in the 2025-2026 time frame, Boeing said. Revenue from the defence, space and security unit jumped 5 per cent to $6.2 billion in the fourth quarter. The operating margin of only 1.8 per cent in the division reflects the “continued operational impact of labour instability and supply chain disruption”. During the October-December period, Boeing’s defence, space and security arm’s backlog reached $54 billion, of which 28 per cent represents orders from customers outside the US. Global services' third-quarter revenue increased 6 per cent to about $4.6 billion. During the quarter, global services finalised the US Air Force F-15 depot support order and opened the Germany distribution centre to serve more than 6,000 customers with chemicals and speciality materials. “We are investing in our business, innovating and prioritising safety, quality and transparency in all that we do. While challenges remain, we are well positioned and are on the right path to restoring our operational and financial strength,” Mr Calhoun said. The company also generated $3.1 billion of free cash flow in the quarter while its cash and investments in marketable securities increased to $17.2 billion, compared to $14.3 billion at the beginning of the quarter. The company said it had access to credit facilities of $12 billion, which remain undrawn.