Boeing posted a 14 per cent rise in quarterly revenues after delivering more planes than European rival Airbus over a three-month period for the first time since 2023.

On Wednesday, the US aerospace giant reported first-quarter revenues of $22.2 billion (€19 billion), up from $19.5 billion over the same period last year, as it continues to make progress in its lengthy turnaround campaign.

Its $7 million loss for the quarter compares with a $31 million first-quarter loss last year, beating analysts’ estimates.

Boeing delivered 143 commercial aircraft to customers in the first three months of this year, up 10 per cent on 2025. The US group shipped 29 more jets than Airbus, its widest lead since 2018, as its rival struggled with supply-chain bottlenecks, particularly engine shortages.

Revenue at Boeing’s defence, space and security division rose 21 per cent, buoyed by a surge in global defence spending.

“We’re building on our momentum with a strong start to the year and growing record-breaking backlog across our business,” said chief executive Kelly Ortberg.

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The company has been dogged since 2018 by the fallout from two deadly crashes in Indonesia and Ethiopia involving the 737 Max jet, as well as an incident in January 2024 when a door plug on an Alaska Airlines 737 Max blew out in mid-air.

But Ortberg, who took over in August 2024, has since shored up Boeing’s finances, improved industrial relations and stabilised 737 Max production. Investors closely monitor production as a key source of cash.

Bryan Bedford, the head of the US Federal Aviation Administration which is responsible for allowing Boeing to increase production, said on Tuesday that the regulator had not so far identified any issues that would prevent it from granting certification this year for new 737-7 and 737-10 variants.

Boeing has been working with the FAA to win approval for design changes to resolve a safety issue with the planes’ engine anti-ice system.

Scott Mikus, an analyst with Melius Research, said the airliner delivery numbers point to “meaningful progress in Boeing’s turnaround and suggests the production ramp is translating into aircraft deliveries – the metric that ultimately drives revenue and cash flow”. – Copyright The Financial Times Limited 2026