US planemaker Boeing's shares slump after it cuts its 737 delivery target and posts a $697m jet-arm loss

Boeing's commercial jet arm has posted a $697m quarterly loss as production of the 737 MAX remains well below targets, forcing the planemaker to cut its full-year delivery guidance. Shares sold off sharply after the results landed, though free cash flow came in ahead of analyst forecasts, offering investors a rare bright spot.

Slower-than-expected 737 output is dragging Boeing's recovery, with deliveries stalling across its commercial division.

Free cash flow beat expectations, preventing an even steeper share-price fall after the weaker production figures.

Boeing faces mounting pressure to restore manufacturing momentum after years of safety scandals and supply-chain disruption.