Boeing has confirmed it will cut a further 7,000 jobs as losses from the Covid-19 pandemic continue to devastate the aviation sector.
The US manufacturer, which had already announced deep cuts, said staff numbers would be down to 130,000 by the end of next year.
This means the company will have 20 per cent fewer employees going into 2021 than the 160,000 it had before the crisis.
The news comes as Boeing reports a net loss of $466 million for the third quarter, as compared to a profit of £1.2 billion for the same period last year.
The company saw revenue fall 29 per cent to $14.1 billion for the three-months to September 30th, down from $20 billion last year.
Boeing said concerns about its 737 Max jet had also contributed to a slump in orders.
However, it reaffirmed its expectation that US deliveries of the 737 Max would resume before the end of the year, albeit at deeply reduced production rates.
The fleet has been grounded since March 2019 after 346 people died in two separate air crashes.
“The global pandemic continued to add pressure to our business this quarter, and we are aligning to this new reality by closely managing our liquidity and transforming our enterprise to be sharper, more resilient and more sustainable for the long term,” said Boeing chief executive, Dave Calhoun.
“Our diverse portfolio, including our government services, defence and space programs, continues to provide some stability for us as we adapt and rebuild for the other side of the pandemic.
“We remain focused on the health and safety of our employees and their communities.”
Boeing said it had made steady progress toward the safe return to service of the 737 Max, including rigorous certification and validation flights conducted by the United States Federal Aviation Administration, Transport Canada and the European Union Aviation Safety Agency.
The joint operational evaluation board, featuring civil aviation authorities from the United States, Canada, Brazil, and the European Union, also conducted its evaluations of updated crew training.
The 737 Max has now completed around 1,400 test and check flights and more than 3,000 flight hours as it progresses through the robust and comprehensive certification process, Boeing added.