Losses narrow at Boeing but problems persist

An increase in 737 MAX deliveries - tied to the early days of a recovery in air travel - helped struggling planemaker Boeing slash losses.

Boeing on Wednesday posted a first-quarter core operating loss of $353 million compared to the $1.7 billion it lost the same time last year.

Total revenues dropped 10 percent.

Boeing has delivered more than 85 of the 737 MAX jets since it was put back into service late last year after two deadly plane crashes grounded it for nearly two years.

But many struggles still abound.

An electrical problem has marred the return of the financially-important 737 MAX Some airlines recently had to pull dozens of 737 MAX jets from service as they await repairs from Boeing....

And the plane still has not been given the green light to resume flying in the lucrative Chinese market....

In addition, Boeing hasn't been able to deliver on a new fleet of two Air Force One presidential aircraft due to conflict with a supplier, forcing it to take a financial hit last quarter...

A mini-jumbo jet set to hit the runway in 2023 has been beset with certification and design challenges...

And even though global demand for air travel is on the mend, the rebound is mainly for short-haul domestic flights, which means airlines are buying Boeing's smaller jets not its larger ones. It's had to sharply reduce production on its long-haul 787 to save cash.

Shares of Boeing were down in early Wednesday trading action.