The loss demonstrates the challenges facing CEO Kelly Ortberg in turning around the planemaker as it cedes more ground to rival Airbus.

Boeing said on Tuesday it was making progress on increasing plane production, and its shares jumped nearly 8%, despite the company recording its biggest annual loss in four years. The $11.8-billion loss,

The boss of American plane giant Boeing had admitted the company is in a "difficult position" after another nightmare year.

Boeing reported an annual loss of $11.83 billion on Tuesday (Jan.28) - its largest since 2020. The planemaker has grappled with problems at its commercial and defense units and the fallout from a crippling strike by U.