Boeing reports $1.4bn losses as embattled aerospace giant is rocked by safety scandals
4 months, 3 weeks ago

Boeing reports $1.4bn losses as embattled aerospace giant is rocked by safety scandals

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. In a bid to repair the company’s fractured finances and reputation, the company announced that Kelly Ortberg, the 64-year-old former chief executive of supplier Rockwell Collins, has been appointed as CEO, effective August 8. David Calhoun noted that it had been a ‘challenging quarter’ for the embattled aerospace company “I’m extremely honored and humbled to join this iconic company,” he said. Kelly Ortberg is set to take over as Boeing’s CEO on August 8 The Federal Aviation Administration demanded that the company halted production of the 737 Max until the regulator was satisfied that safety and quality issues had been addressed. Ron Irvin, a former quality investigator at Boeing for six years, told The Independent that the aircraft manufacturer was “infested with ‘yes men’” and full of “bean counters”.

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Boeing is losing $1 billion a month with planes awaiting parts
4 months, 4 weeks ago

Boeing is losing $1 billion a month with planes awaiting parts

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Boeing is burning through …

Boeing shareholders approve CEO’s compensation as company faces investigations, possible prosecution
7 months ago

Boeing shareholders approve CEO’s compensation as company faces investigations, possible prosecution

Associated Press  

Boeing shareholders on Friday approved CEO David Calhoun’s $32.8 million compensation and heard leaders explain what the troubled aircraft maker is doing to improve the quality and safety of its planes after a door plug blew off a Boeing 737 Max jetliner in January. Shareholders approved an advisory measure on executive compensation by a 64%-36% margin — nearly all of …

Boeing’s financial woes continue, while families of crash victims urge US to prosecute the company
7 months, 4 weeks ago

Boeing’s financial woes continue, while families of crash victims urge US to prosecute the company

Associated Press  

Boeing said Wednesday that it lost $355 million on falling revenue in the first quarter, another sign of the crisis gripping the aircraft manufacturer as it faces increasing scrutiny over the safety of its planes and accusations of shoddy work from a growing number of whistleblowers. CEO David Calhoun said the company is in “a tough moment,” and its focus …

Major airlines want to hear how Boeing plans to fix problems in the manufacturing of its planes
9 months ago

Major airlines want to hear how Boeing plans to fix problems in the manufacturing of its planes

Associated Press  

The heads of leading U.S. airlines want to meet with Boeing and hear the aircraft manufacturer’s strategy for fixing quality-control problems that have gained attention since a panel blew out of an Alaska Airlines jetliner in January, people familiar with the situation said Thursday. The newspaper said that Boeing CEO David Calhoun is not expected to meet with the airline …

Boeing loses $663 million in 4Q despite higher revenue
1 year, 10 months ago

Boeing loses $663 million in 4Q despite higher revenue

Associated Press  

Boeing said Wednesday it lost $663 million in the fourth quarter as higher production costs and supply-chain problems offset rising revenue. Boeing, based in Arlington, Virginia, has seen deliveries rise since regulators approved the 737 Max to fly again in late 2021 and after the company satisfied regulators that it fixed production problems on another plane, the larger 787 Dreamliner. …

Boeing reports unexpected loss after taking hits from Air Force One, Starliner programs
2 years, 1 month ago

Boeing reports unexpected loss after taking hits from Air Force One, Starliner programs

CNN  

New York CNN Business — Boeing reported an unexpected loss in the third quarter Wednesday after taking a massive $2.8 billion charge related to its high profile defense and space businesses, including completing the new versions of Air Force One and its much delayed Starliner space capsule. The company also continued to report losses from its core commercial jet unit, …

Boeing posts $1.2 billion loss in Q1, worse than expected
2 years, 7 months ago

Boeing posts $1.2 billion loss in Q1, worse than expected

Associated Press  

Boeing said Wednesday that it lost $1.2 billion in the first quarter as it took large write-downs and lost money in both its civilian-airplane and defense businesses. Calhoun said the company was on track to generate positive cash flow over the entire year “despite the pressures on our defense and commercial development programs.” “This was another dreadful quarter from Boeing,” …

Boeing posts Q3 loss as problems dog airliner, space capsule
3 years, 1 month ago

Boeing posts Q3 loss as problems dog airliner, space capsule

Associated Press  

Boeing Co. reported a third-quarter loss on Wednesday, as it struggled to fix problems with its 787 Dreamliner airline plane and a space capsule designed to ferry astronauts to the international space station. “We’re well past halfway.” Calhoun said the company will correct problems on the 787, a large plane designed for long international flights, the same way that it …

Boeing posts $8.4 billion loss on weaker demand for planes
3 years, 10 months ago

Boeing posts $8.4 billion loss on weaker demand for planes

Associated Press  

Boeing closed out its worst year ever financially by losing $8.4 billion in the fourth quarter as the pandemic has undercut demand for planes, and the company announced another costly delay to its new large jetliner designed for long-haul flights. When do the airlines start to place more orders and start taking deliveries of planes?” Windau said Boeing’s ability to …

Boeing posts three-month loss of $2.4 billion
4 years, 4 months ago

Boeing posts three-month loss of $2.4 billion

CNN  

New York CNN Business — Boeing lost $2.4 billion over the past three months, the company revealed Wednesday. The company is still in the early stages of resuming production of its 737 Max jets, which was Boeing’s best-selling aircraft but has been grounded since March 2019 following two crashes that killed 346 people. “The reality is the pandemic’s impact on …

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