U.S. aircraft manufacturer Boeing reported on Tuesday a smaller loss in the second quarter, after the company delivered more planes, with its CEO pointing to signs of stabilization in operations.
The aviation giant reported a loss of $697 million, compared with a loss of $1.4 billion in the same period of the previous year. Revenues rose 34.9% to $22.7 billion, topping analyst estimates.
The firm delivered the most planes in the second quarter, or in the first half of the year, since 2018, reflecting efforts to improve its quality control operations following a number of safety problems.
Boeing has also resumed deliveries to Chinese carriers after they were halted at the height of the trade conflict earlier this year between Washington and Beijing.
The two countries have suspended their most onerous tariffs and are now working on a deal, with talks ongoing in Stockholm on Tuesday.
Boeing increased production on the 737 Max to 38 per month during the quarter as it reaffirmed plans to seek approval from federal officials later this year to lift the output to 42 per month.
Production of the company's other top-selling jet, the 787 Dreamliner, now stands at seven per month, up from five earlier in the year.
Chief executive Kelly Ortberg said he was encouraged by the company's progress in the second quarter.
"Change takes time, but we're starting to see a difference in our performance across the business," Ortberg said.
Ortberg said the certification of the 737-7 and 737-10 models is taking longer than previously expected. Boeing now expects certification for the jets in 2026 instead of this year, he said.
Shares of Boeing rose 1.2% in pre-market trading.
