Boeing has actually lost $1.5 billion establishing Starliner spacecraft for NASA

Boeing on Wednesday reported a $257 million charge in the 2nd quarter for its Starliner astronaut spacecraft program, bringing the program’s to-date overrun expenses to $1.5 billion as hold-ups continue.

The aerospace giant blamed the charge on its choice last month to forever postpone the very first crewed Starliner launch. Starliner was arranged to introduce in late July and bring a set of NASA astronauts to the International Space Station.

But Boeing found 2 brand-new issues with Starliner and aborted the launch to remedy the concerns. The hold-up was the most recent in a series of interruptions in Boeing’s advancement of Starliner.

Since 2014, when NASA granted Boeing with an almost $5 billion fixed-price agreement to establish Starliner, the business has actually tape-recorded losses on the program practically every year. The charges overall $1.47 billion, according to its yearly reports and the business’s newest quarterly filing.

The yearly losses have actually varied from $57 million in 2018 to $489 million in 2019.

Boeing’s program takes on Elon Musk’s Space X, which is poised to complete all 6 of its initially contracted NASA objectives prior to Boeing flies its very first.

Still, Boeing CEO Dave Calhoun stated on an incomes call Wednesday that the maker is “in lockstep” with NASA on Starliner advancement.

“We prioritize safety, and we’re taking whatever time is required. We’re confident in that team and committed to getting it right,” Calhoun stated.

Boeing tape-recorded other losses in its defense, area and security system for the 2nd quarter: a $189 million loss in the T-7A fitness instructor jet program and $68 million charge on its MQ-25 system.

Boeing in 2015 revealed extra losses on the Air Force One program, bringing charges on the agreement worked out with the Trump administration to above $1 billion.