Boeing’s Jet Unit Still Loses Money as Production Ramps

Boeing’s commercial airplane business lost $322 million in the second quarter of 2026, despite delivering more jets. Its operating margin improved to negative 2.7% from negative 5.1% a year earlier, but costs still exceeded revenue.

The unit generated $11.8 billion in revenue, nearly half of Boeing’s total, and delivered 171 aircraft, up from 150 a year earlier. Boeing said higher deliveries, a better mix of planes and other adjustments helped narrow the loss.

The production challenge remains. On September 16, CEO Kelly Ortberg said Boeing was working toward 47 737 MAX jets a month but had not yet made that rate stable. He said reaching it was taking longer than he had expected.

That matters because higher, reliable output can help Boeing spread factory costs across more aircraft and convert its large order book into sales. But producing more jets does not guarantee stronger margins if manufacturing snags continue or deliveries slip.

Demand is not the immediate shortage. Boeing reported a record $715 billion in total backlog at the end of June, including more than 6,200 commercial airplanes valued at $597 billion. On September 23, it also announced that Biman Bangladesh Airlines had ordered 11 additional jets.

Still, orders are not the same as near-term profit. Boeing must build and deliver aircraft on schedule, while lifting margins from a loss. Its commercial unit lost $885 million in the first half, compared with a $1.09 billion loss in the same period last year.

For investors, the figures point to a recovery underway, but one that remains tied to execution. The next signs to watch are whether Boeing can stabilize 737 MAX production at 47 a month and keep improving commercial-airplane margins.