Boeing Co. reported its first-quarter earnings, surpassing Wall Street's expectations with a total revenue of $19.5 billion, up 18% year-over-year. The company's core loss per share was $0.49, significantly better than the anticipated loss of $1.27. Boeing's operating loss narrowed to $537 million, and its adjusted free cash flow was a negative $2.29 billion, which was better than the expected negative $3.42 billion. The company's backlog reached $545 billion, including over 5,600 commercial airplanes. Boeing is seeking approval from the Federal Aviation Administration to increase 737 Max production to 42 jets per month. The first quarter saw a nearly 60% increase in deliveries, contributing to the revenue growth. In contrast, major U.S. airlines are facing challenges due to economic uncertainty. Southwest Airlines reported a $149 million loss and withdrew its financial guidance for 2025 and 2026, citing macroeconomic uncertainty. The airline plans to cut flights in the second half of the year due to lower demand. Southwest's revenue was $6.4 billion, up 1.6% from the previous year, and it expects unit revenue to be flat to down as much as 4% in the second quarter. American Airlines also withdrew its 2025 financial forecast, reporting a first-quarter loss of $473 million, or $0.72 per share, on revenue of $12.55 billion, down 0.2% year-over-year. The airline cited significant weakness in domestic travel demand and the impact of tariffs as reasons for the withdrawal. American's adjusted EPS beat expectations by $0.06, with passenger revenue at $11.39 billion, a load factor of 80.6%, and available seat miles (ASM) at 69.90 billion. The company forecasts second-quarter EPS between $0.50 and $1.00, with revenue expected to be down 2% to up 1%. Alaska Airlines similarly withheld its full-year outlook, warning of slower demand and a profit outlook that falls short of expectations. Southwest Airlines' CEO Bob Jordan declared that the U.S. airline industry is already in a recession, pointing to a significant drop in domestic leisure travel demand. This sentiment is echoed across the industry, with other airlines like Delta and United also adjusting their forecasts due to economic uncertainties. Southwest expects its second-quarter revenue to decrease by six percentage points.