Boeing Company ( BA ) shares are down more than 6% on Thursday following CFO Brian West’s announcement that the company will burn cash in 2024 rather than generate it.

What’s Going On: Speaking at the Wolfe Research Global Transportation and Industrials Conference on Thursday, West revealed that he expects Boeing’s full-year free cash flow to be negative, a stark contrast to the outlook provided in March for positive cash generation in the low single-digit billions, according to Reuters.

The announcement surprised investors and further complicated Boeing’s situation as it struggles with production challenges and delayed deliveries to China, which West confirmed at the conference, citing a Chinese regulatory review of batteries in the cockpit voice recorder. The delivery delays in China are expected to impact second-quarter free cash flow, he said.

See Also: Boeing’s Outgoing CEO Dave Calhoun Reelected To Board Despite Safety Concerns At Company

What Else: Production of the 737 MAX jetliner has slowed significantly in recent months, with April’s output falling to single digits, well below the U.S. Federal Aviation Administration’s cap of 38 jets per month. The slowdown follows a January incident where a door plug blew off an Alaska Airlines jet mid-air, prompting increased scrutiny from regulators and airlines.

Boeing ( BA ) shares are already down more than 30% since the start of the year. The FAA has set a deadline (May 30) for Boeing ( BA ) to address systemic quality-control issues. Furthermore, the U.S. Justice Department is evaluating whether Boeing ( BA ) breached its 2021 agreement, potentially exposing the company to charges over past crashes.

Looking Ahead: Despite these challenges, West indicated potential improvement by the third and fourth quarter this year, with ongoing negotiations to acquire 737 MAX fuselage supplier Spirit AeroSystems possibly concluding in the second quarter. He noted that the deal is complex and should not be rushed.

“If you’re on the inside you’re seeing progress,” West said, adding that "everyone wishes it would go faster."

BA Price Action: Boeing ( BA ) shares were down by 6.8% at $173.61 at the time of writing, according to Benzinga Pro.

See Also: Boeing’s China Deliveries Hit By Regulatory Battery Review: Report