Boeing’s new CEO hire put a silver lining on latest quarterly loss

Boeing (NYSE:BA) shares added 2% in Wednesday’s deals with the news that aircraft maker will have a new chief executive in August.

Kelly Ortberg takes up the role effective August 8, succeeding Dave Calhoun, who is retiring.

The appointment of the former Rockwell Collins chief exec grabbed the headlines on the day that Boeing, which continues to be impacted by scrutiny over safety and quality following high profile recent incidents, reported another jump in year-over-year losses.

Boeing’s core operating loss of $1.4 billion for the second quarter, was more than triple the loss announced for the same quarter last year.

Revenue for the quarter amounted to $16.9 billion, shy of a consensus Wall Street forecast pitched at $17.39 billion.

If the plan was to change narratives with the new CEO, perhaps that proved effective.

Ortberg, in a statement, acknowledged the challenges ahead whilst emphasizing the importance of safety and quality to the brand’s future.

The incoming boss said he was committed to working with Boeing's 170,000 employees to steer the company through the difficult period.

In New York, Boeing stock closed the regular trading session up $3.74 or 2% at $190.60.