<a href="https://www.thenationalnews.com/business/aviation/2023/06/18/boeing-forecasts-new-aircraft-deliveries-to-hit-8-trillion-by-2042/" target="_blank">Boeing</a> reported a net loss of $149 million, or 25 cents per share, in the second quarter, on the back of delays and cost issues in its defence and space programme, despite an 18 per cent jump in revenue. The <a href="https://www.thenationalnews.com/business/aviation/2023/06/05/pif-backed-riyadh-air-discussing-narrow-body-jet-order-with-boeing-and-airbus/" target="_blank">US plane maker</a>, which has struggled to increase aircraft production as travel demand rebounds in the pre-Covid era, made a net profit of $160 million in the same period last year. Revenue in the April-June period rose to more than $19.7 billion, exceeding analysts’ expectations of $18.4 billion. “We had a solid second quarter with improved deliveries and strong free cash flow generation,” said Dave Calhoun, Boeing's president and chief executive. “We are well positioned to meet the operational and financial goals we set for this year and for the long term.” The second-quarter results reflect higher commercial volume and lower defence margins, the company said. The revenue from defence, space and security was flat at $6.2 billion in the second quarter. The division’s commercial crew programme recorded a $257 million loss primarily due to the impacts of the previously announced launch delay, Boeing said. Boeing’s stock surged almost 4 per cent in pre-market trading to $221.75 a share on Wednesday. Sales for Boeing’s commercial aircraft unit increased almost 41 per cent on an annual basis to more than $8.8 billion in the three months to June 30. It was driven by bigger 787 deliveries, Boeing said. This unit, which delivered 136 aircraft during the quarter, booked 460 net orders during the April-June period. It included 220 planes for Air India and 39 for Riyadh Air. The company also won a commitment from Ryanair for up to 300 737 Max jets. The division’s backlog included more than 4,800 planes valued at $363 billion. The company’s total backlog stood at $440 billion. Boeing said its 737 programme is transitioning production to 38 aircraft per month and plans to reach 50 per month in the 2025-2026 time frame. The programme expects to deliver 400 to 450 jets this year. Meanwhile, Boeing's 787 programme has increased production to four planes a month, with plans to increase to five in late 2023 and 10 per month in the 2025-2026 time frame. It expects to deliver 70 to 80 aircraft this year. Last month, Boeing lifted its 20-year forecast for <a href="https://www.thenationalnews.com/business/aviation/2023/06/14/airbus-raises-20-year-forecast-for-new-jet-deliveries/">new aircraft demand </a>globally, with about half of the deliveries set to replace older jets with more fuel-efficient models as airlines seek to <a href="https://www.thenationalnews.com/business/aviation/2023/06/10/middle-east-airlines-among-the-more-advanced-on-climate-action-iata-chief-says/">reduce their carbon emissions.</a> The Arlington, Virginia-based plane maker expects global demand for 42,595 new commercial jets valued at $8 trillion by 2042, up from 41,170 planes in its previous forecast last year, Boeing said in its latest Commercial Market Outlook. “While we have more work ahead, we are making progress in our recovery and driving stability in our factories and the supply chain to meet our customer commitments,” Mr Calhoun said. “With demand strong, we are steadily increasing our production rates across key programmes and growing investments in our people, products and technologies.” The company’s global services division posted a 10 per cent annual jump in revenues to more than $4.7 billion in the second quarter. The 18 per cent operating margin reflects “higher commercial volume and favourable mix”, Boeing said. During the last quarter, Boeing's global services unit announced expansion in Poland with a parts distribution site. The company’s research and development expenditure jumped by more than 14 per cent in the last quarter to $797 million, it said. Boeing said its free cash flow reached $2.6 billion while cash and marketable securities stood at $13.8 billion, compared to $14.8 billion at the beginning of the quarter. Debt reached $52.3 billion as of June 30, down from $55.4 billion at the beginning of the quarter. The company maintained access to credit facilities of $12 billion, which remain undrawn<b>.</b>