Boeing reported a bigger-than-expected loss and lower-than-expected revenue for the second quarter of the year, with both of the company’s business segments – commercial airplanes and defense programs – under pressure.

Meanwhile, as reported by Reuters, the company announced CEO change, with Kelly Ortberg taking over.

In particular, Boeing announced:

– Loss per share of $2.90 (adjusted)

– Revenue: $16.87 billion

“Despite the difficult quarter, we are making substantial progress in strengthening our management system and positioning the company for the future” says in a written announcement of the company its CEO, Dave Calhoun.

According to CNBC, Boeing is trying to regain its momentum after part of the fuselage detached from a near-new 737 Max earlier this year. The incident brought new additional controls by regulators, further slowing deliveries of new, more efficient aircraft to airlines.

In addition to the fuselage detachment incident in January, Boeing, like rival Airbus, has thousands of new workers to deal with and a supply chain that can’t keep up with production demands, following a drop in demand recorded during the Covid-19 pandemic.

Declining deliveries and production have put some of Boeing’s financial targets on hold.

Last March, Boeing announced that it would use an amount of 4-4.5 billion dollars due to the crisis created after the separation of the fuselage.

It is noted that Boeing’s stock, which records a 35% plunge since the beginning of the yearin Wednesday’s session are up 1% which analysts attribute to the CEO change.