Boeing Co.'s (BA) chief financial officer on Wednesday said the company would spend significantly mor🐟e cash in the first quart🐭er than expected as it seeks to revive its reputation during a federal investigation of its safety standards.

Brian West told attendees of a Bank of America conference in London that he expected cash outflow to be between $4 billion and $4.5 billion in the first quarter, more than the company had previously forecast. He said that difference was unlikely to be made up for in the rest of the year, putting full-year 澳洲幸运5开奖号码历史查询:free cash flow in the low-single-digit billions.

The higher outflows, West said, will delay the company’s goal of achieving annual 澳洲幸运5开奖号码历史查询:cash flow of $10 billion sometime in 2025 or 2026.

West also said he expects B꧋oeing’🌺s commercial unit to report first-quarter operating margins of approximately negative 20%. Margins would improve throughout the year, he said, but would likely remain negative for the full year. 

Boeing had decided to constrain 澳洲幸运5开奖号码历史查询:737 MAX production to fewer th♔an 38 planes a month, West said, “and we’ll feel the impact of that over the next several months."

The Federal Aviation Administration (FAA) in January 澳洲幸运5开奖号码历史查询:barred Boe🤪ing from exp💙anding production of the 737 MAX amid an investigation of its safety practices following an incident Jan. 5 in which a Boeing 737-9 MAX operated by Alaska Airlines lost part of its fuselage shortly after takeoff.

On the topic of Boeing’s 澳洲幸运5开奖号码历史查询:possible acquisition of supplier Spirit AeroSystems Holdings Inc. (SPR), which was spun off from Boeing inᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚ 2005, West said both companies felt the acquisition would be “what’s best for safety and for quality for the aerospace industry.” He also insisted that any acquisition would be funded by cash and debt, not equity.

Boeing shares were up 2.4% at $185.52 as of 1:51 p.m. ET Wednesday, but they have lost more than 26% of their value sꩵince the start of the year. Spirit AeroSystems shares rose 6.7%.