Pentagon Contract Fuels Defense Surge, Narrowing Boeing's Losses

Boeing narrowed its first-quarter loss as earnings from its defense business rose, bolstered by a $2.3 billion contract from the U.S. Pentagon. The aerospace giant reported a reduced operating loss of $0.2 billion, compared to a $0.6 billion loss in the same period last year, driven by strong demand for military aircraft and weapons systems amid global conflicts. Revenue from defense, space, and security climbed 6% to $6.5 billion, offsetting continued struggles in its commercial airline unit. The Pentagon contract, awarded in March, covers production of F-15 fighter jets and other defense equipment, highlighting the surge in government spending on defense as geopolitical tensions escalate.