Asia Tech Wire (Oct 21) -- Boeing is exploring asset sales that would divest it of non-core or underperforming divisions while generating much-needed cash, the Wall Street Journal said, citing people familiar with the matter.

The company needs to focus its resources on areas critical to its positioning to improve performance and innovation, Boeing CEO Kelly Ortberg said in a memo to employees earlier this month.

Boeing previously announced plans to lay off about 10% of its workforce, involving about 17,000 employees, in the face of ongoing strikes and cash flow shortages, the report said.

It also announced a further delay in deliveries of the new Boeing 777X airplane until 2026.

Boeing will also cease production of the 767 Freighte for cargo transportation, by 2027.

Boeing expects revenue of $17.8 billion and a loss of $9.97 per share for the third quarter of 2024.

In its preliminary financial results, Boeing said it expects operating cash outflows of $1.3 billion in the third quarter.

The U.S. airplane maker will release complete financial results for the third quarter of 2024 on Wednesday.