Plane maker Boeing recorded a hefty loss in the April-June quarter and warned that civil aviation was unlikely to recover until 2005.
Boeing reported a net loss of $192m, or 24 cents a share, in the three months to June 30 - a smaller loss than the 43 cents expected by Wall Street analysts. That compared to a net profit of $779m a year earlier.
Sales slumped 7.7% to $12.79 billion. Heavy charges related to the group's launch and satellite business trimmed the net profit by $693m.
The outlook was grim in all sectors except for the defence business and government satellites, Boeing said.
'In the commercial aviation market, while there have been some encouraging signs, the downturn remains severe and continues to dampen demand across all airplane types, particularly the 757,' the group said.
