Boeing blew through $4bn last quarter in response to 737 Max blowout incident

Plane maker beat lowered expectations but still burned billions in response to crisis and reported first revenue drop in seven quarters

Boeing on Wednesday reported it had burned through nearly $4bn in the last quarter as it dealt with the consequences of a mid-flight blowout of a cabin panel on a brand-new Boeing 737 Max 9 jet.

But the US aircraft maker beat Wall Street expectations that were lowered after the incident prompted it to slow production of its bestselling jets.