Boeing posts second straight quarter of loss, to further cut 787 production

(Reuters) – Boeing Co reported a loss for the second straight quarter and said on Wednesday it would further reduce production of 787 Dreamliner to seven jets a month amid a slump in travel demand.

It expects to resume 737 MAX production at low rates in 2020, but did not give a timeline. The planemaker said it will reduce overall staffing levels with a voluntary layoff program.

The company’s quarterly loss stood at $1.70 billion, or $1.70 per share, compared with a profit of $1.99 billion, or $3.16 per share, a year earlier.

(Reporting by Ankit Ajmera in Bengaluru; Editing by Arun Koyyur)