Boeing now sees negative free cash flow in 2024 as deliveries remain sluggish

The company's has slowed dramatically in the face of increased scrutiny from , airlines and lawmakers following a January incident when a door plug blew off an jetliner while in mid-air.

Commercial jet deliveries won't step up in the second quarter compared with the first three months of the year, West said, adding that "we have frustrated and disappointed" customers due to the chain and production issues.

"If you're on the inside you're seeing progress," West said, but also said "everyone wishes it would go faster."

were down 5% on Thursday. Coming into the day's trading, Boeing stock was down 30% this year.

Boeing 737 MAX jetliner production fell as low as single digits in April, reported, well below the U.S. cap of 38 jets a month as workers slow the assembly line outside Seattle to complete outstanding work.

The Alaska Airlines incident, which occurred on a new jetliner, prompted U.S. aviation regulators to curb the company's production levels until Boeing starts to address . The company is overhauling its manufacturing practices and it is also searching for a new chief executive after current Dave Calhoun agreed to leave by year-end.

Top U.S. enforcement officials are also weighing whether to charge the company for violating an agreement that shielded it from prosecution stemming from previous jet crashes in 2018 and 2019.

The U.S. Federal Aviation Administration has imposed a May 30th deadline for the planemaker to hand over a 90-day report that would address "systemic quality-control issues." Administrator Mike Whitaker said Thursday that Boeing faces a "long road" to address safety issues.

Separately, the U.S. Justice Department intends to decide by July 7 whether to prosecute Boeing after determining the planemaker breached its obligations in a 2021 agreement that shielded it from criminal prosecution over fatal 737 MAX crashes in 2018 and 2019.

West also confirmed a Wednesday

Reuters report that said plane deliveries to China were delayed in recent weeks due to a Chinese regulatory review of batteries powering the cockpit voice recorder. The delay will have an effect on free cash in the second quarter, West said.

The U.S. planemaker said in a statement on Wednesday it is working with Chinese customers on the timing of their deliveries as the completes its review of batteries contained within the 25-hour cockpit voice recorder.