Boeing takes another hit on Pegasus
A KC-46A Pegasus tanker refuels a USAF F-16 fighter. (Photo: Boeing)
Boeing logged contract wins in Q4 2021 but it incurred a $402 million pre-tax charge related to the KC-46A Pegasus programme.
Troubles with the vision system for the KC-46A Pegasus tanker programme continued to dog Boeing in Q4 2021 with a $402 million pre-tax charge, the US defence and aerospace group announced on 26 January.
On a more positive note, Q4 landmarks for Boeing Defense, Space & Security included a contract from US Special Operations Command for six MH-47G Block II Chinook helicopters; a contract extension from the UK MoD for Future Logistics Information Services; and an award from Royal Saudi Air Force to modernise Airborne Warning and Control System aircraft.
Boeing also completed the first carrier tests for the MQ-25 Stingray tanker UAV and it started flight tests with the second uncrewed Loyal Wingman aircraft.
Sales and profits at Boeing Defense, Space & Security barely changed in 2021, with the former increasing by 1% to $26.54 billion and the latter rising by just $5 million to $1.54 billion.
The order backlog for Boeing Defense, Space & Security reached $60 billion by the end of 2021, with 33% coming from customers outside the US.
Group-wide, Boeing saw a 7% growth in full-year revenues to $62.28 billion in 2021 as overall losses improved from $11.94 billion to $4.29 billion.
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