BA stock, with -32% returns since the beginning of 2024, has significantly underperformed the S&P 500 index, up 27%.

Airplane maker’s whopping losses for the fourth quarter and full year illustrate the urgency for the company, which has about 3,000 employees in San Antonio.

Boeing’s ( NYSE: BA) shares rose 4.5% on Tuesday morning after the aviation giant cited progress on its efforts to restore positive cash flow, a key indicator of its health. The company last week issued preliminary results to reset investor expectations on quarterly results.

Boeing reported an annual loss of $11.83 billion on Tuesday (Jan.28) - its largest since 2020. The planemaker has grappled with problems at its commercial and defense units and the fallout from a crippling strike by U.