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Boeing Reports $482 Million Q3 Loss Amid Air Force One Woes
Boeing incurred a loss of $482 million in the third quarter of 2023 due to higher manufacturing costs and issues with labor and suppliers in building new Air Force One jets. The company has faced various problems with the program, resulting in delays and a total loss of over $2.4 billion. Boeing's defense business has experienced cost increases that contributed to the losses. Additionally, the company suffered a $315 million loss in its satellite program. Despite these challenges, Boeing is focused on improving its defense business performance and controlling costs.
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