Would you fly in a 737 Max 8 right now?
- Thread starter VIBC
- Start date
Checking your numbers. . . we're talking 40,000 km, so about 800 km/day. 67 km/hr for 12 hours sailing each day. If you're solo, you need to heave to approx 12 hrs/day for sleep, meals, etc.
I don't see that as likely. I'm not saying it's impossible, but. . .
Link
That sounds more realistic.
Official says Boeing hasn’t turned over records about work on panel that blew off plane
Author of the article:Associated Press
Associated Press
David Koenig
Published Mar 06, 2024 • 1 minute read
Boeing has refused to tell investigators who worked on the door plug that later blew off a jetliner during flight in January, the chair of the National Transportation Safety Board said Wednesday.
The company also hasn’t provided documentation about a repair job that included removing and reinstalling the panel on the Boeing 737 Max 9 — or even whether Boeing kept records — Jennifer Homendy told a Senate committee.
“It’s absurd that two months later we don’t have that,” Homendy said. “Without that information, that raises concerns about quality assurance, quality management, safety management systems” at Boeing.
Lawmakers seemed stunned.
“That is utterly unacceptable,” said Sen. Ted Cruz, R-Texas.
Boeing did not immediately respond to a request for comment.
Boeing has been under increasing scrutiny since the Jan. 5 incident in which a panel that plugged a space left for an extra emergency door blew off an Alaska Airlines Max 9. Pilots were able to land safely, and there were no injuries.
In a preliminary report last month, the NTSB said four bolts that help keep the door plug in place were missing after the panel was removed so workers could repair nearby damaged rivets last September. The rivet repairs were done by contractors working for Boeing supplier Spirit AeroSystems, but the NTSB still does not know who removed and replaced the door panel, Homendy said Wednesday.
Homendy said Boeing has a 25-member team led by a manager, but Boeing has declined repeated requests for their names so they can be interviewed by investigators. Security-camera footage that might have shown who removed the panel was erased and recorded over 30 days later, she said.
The Federal Aviation Administration recently gave Boeing 90 days to say how it will respond to quality-control issues raised by the agency and a panel of industry and government experts. The panel found problems in Boeing’s safety culture despite improvements made after two Max 8 jets crashed in 2018 and 2019, killing 346 people.
torontosun.com
Author of the article:Associated Press
Associated Press
David Koenig
Published Mar 06, 2024 • 1 minute read
Boeing has refused to tell investigators who worked on the door plug that later blew off a jetliner during flight in January, the chair of the National Transportation Safety Board said Wednesday.
The company also hasn’t provided documentation about a repair job that included removing and reinstalling the panel on the Boeing 737 Max 9 — or even whether Boeing kept records — Jennifer Homendy told a Senate committee.
“It’s absurd that two months later we don’t have that,” Homendy said. “Without that information, that raises concerns about quality assurance, quality management, safety management systems” at Boeing.
Lawmakers seemed stunned.
“That is utterly unacceptable,” said Sen. Ted Cruz, R-Texas.
Boeing did not immediately respond to a request for comment.
Boeing has been under increasing scrutiny since the Jan. 5 incident in which a panel that plugged a space left for an extra emergency door blew off an Alaska Airlines Max 9. Pilots were able to land safely, and there were no injuries.
In a preliminary report last month, the NTSB said four bolts that help keep the door plug in place were missing after the panel was removed so workers could repair nearby damaged rivets last September. The rivet repairs were done by contractors working for Boeing supplier Spirit AeroSystems, but the NTSB still does not know who removed and replaced the door panel, Homendy said Wednesday.
Homendy said Boeing has a 25-member team led by a manager, but Boeing has declined repeated requests for their names so they can be interviewed by investigators. Security-camera footage that might have shown who removed the panel was erased and recorded over 30 days later, she said.
The Federal Aviation Administration recently gave Boeing 90 days to say how it will respond to quality-control issues raised by the agency and a panel of industry and government experts. The panel found problems in Boeing’s safety culture despite improvements made after two Max 8 jets crashed in 2018 and 2019, killing 346 people.
Official says Boeing hasn’t turned over records about work on panel that blew off plane
Boeing has refused to tell investigators who worked on the door plug that later blew off a jetliner during flight in January
U.S. opens criminal investigation into Alaska Airlines midair blowout
Author of the article:Bloomberg News
Bloomberg News
Alan Goldstein and Alan Levin
Published Mar 09, 2024 • Last updated 3 days ago • 2 minute read
The U.S. Justice Department has opened a criminal investigation into the midair blowout of a Boeing 737 Max fuselage panel on an Alaska Airlines flight in January.
“In an event like this, it’s normal for the DOJ to be conducting an investigation,” Alaska Airlines said Saturday in a statement. “We are fully cooperating and do not believe we are a target of the investigation.”
The Wall Street Journal reported that investigators have contacted some passengers and crew members from the flight, which made an emergency landing in Portland, Oregon, after a door plug ripped off from the plane.
A Boeing Co. spokesperson declined to comment. The Justice Department didn’t immediately respond to a request for comment.
Separately, Boeing confirmed it can’t locate any records of the work performed on the door panel that failed and suggested company procedures weren’t followed, according to a letter sent to a US senator who leads the committee overseeing aviation issues.
Bloomberg reported last month that the Justice Department was scrutinizing the Alaska incident, examining whether it falls under the government’s 2021 deferred-prosecution agreement with the aircraft maker over two previous fatal crashes of its 737 Max jetliner.
Under the terms of the $2.5 billion settlement, the company adopted a compliance program designed to prevent it from deceiving regulators, including the Federal Aviation Administration. Boeing agreed to comply with the settlement and cooperate with the government for a period of three years, after which the charge would be dismissed. The Alaska Air accident took place on Jan. 5, two days before the expiration of the deferred-prosecution agreement.
Boeing’s acknowledgment that it lacks records for what appears to have been a faulty repair shortly before the jet was delivered last year is highly unusual in an industry that places enormous emphasis on documentation.
The Boeing team working with the National Transportation Safety Board “has shared multiple times with the NTSB that we have looked extensively and have not found any such documentation,” Ziad Ojakli, executive vice president of government operations, wrote in the letter.
It was sent to Senator Maria Cantwell, the Washington Democrat who chairs the Commerce Committee. The letter was earlier reported by the Seattle Times.
A panel covering an unused door was installed without four bolts that would have prevented it from coming loose, the NTSB said in a preliminary report last month.
Ojakli defended Boeing’s work with NTSB, saying it had provided the investigation team with all the requested information. NTSB Chair Jennifer Homendy on Wednesday accused Boeing of failing to cooperate in the probe. NTSB spokesman Eric Weiss said Homendy stands by her testimony before the Commerce Committee.
torontosun.com
Author of the article:Bloomberg News
Bloomberg News
Alan Goldstein and Alan Levin
Published Mar 09, 2024 • Last updated 3 days ago • 2 minute read
The U.S. Justice Department has opened a criminal investigation into the midair blowout of a Boeing 737 Max fuselage panel on an Alaska Airlines flight in January.
“In an event like this, it’s normal for the DOJ to be conducting an investigation,” Alaska Airlines said Saturday in a statement. “We are fully cooperating and do not believe we are a target of the investigation.”
The Wall Street Journal reported that investigators have contacted some passengers and crew members from the flight, which made an emergency landing in Portland, Oregon, after a door plug ripped off from the plane.
A Boeing Co. spokesperson declined to comment. The Justice Department didn’t immediately respond to a request for comment.
Separately, Boeing confirmed it can’t locate any records of the work performed on the door panel that failed and suggested company procedures weren’t followed, according to a letter sent to a US senator who leads the committee overseeing aviation issues.
Bloomberg reported last month that the Justice Department was scrutinizing the Alaska incident, examining whether it falls under the government’s 2021 deferred-prosecution agreement with the aircraft maker over two previous fatal crashes of its 737 Max jetliner.
Under the terms of the $2.5 billion settlement, the company adopted a compliance program designed to prevent it from deceiving regulators, including the Federal Aviation Administration. Boeing agreed to comply with the settlement and cooperate with the government for a period of three years, after which the charge would be dismissed. The Alaska Air accident took place on Jan. 5, two days before the expiration of the deferred-prosecution agreement.
Boeing’s acknowledgment that it lacks records for what appears to have been a faulty repair shortly before the jet was delivered last year is highly unusual in an industry that places enormous emphasis on documentation.
The Boeing team working with the National Transportation Safety Board “has shared multiple times with the NTSB that we have looked extensively and have not found any such documentation,” Ziad Ojakli, executive vice president of government operations, wrote in the letter.
It was sent to Senator Maria Cantwell, the Washington Democrat who chairs the Commerce Committee. The letter was earlier reported by the Seattle Times.
A panel covering an unused door was installed without four bolts that would have prevented it from coming loose, the NTSB said in a preliminary report last month.
Ojakli defended Boeing’s work with NTSB, saying it had provided the investigation team with all the requested information. NTSB Chair Jennifer Homendy on Wednesday accused Boeing of failing to cooperate in the probe. NTSB spokesman Eric Weiss said Homendy stands by her testimony before the Commerce Committee.
U.S. opens criminal investigation into Alaska Airlines midair blowout
The U.S. Justice Department has opened a criminal investigation into the midair blowout of a Boeing 737 Max fuselage panel.
Ive flown on the 800 several times. Only once did I experience ear popping that equalled the older 600s and down. If its leaky your ears pop.
Boeing plane found to have missing panel after flight from California to Oregon
Author of the article:Associated Press
Associated Press
Published Mar 15, 2024 • Last updated 4 days ago • 2 minute read
PORTLAND, Ore. — A post-flight inspection revealed a missing panel on a Boeing 737-800 that had just arrived at its destination in southern Oregon on Friday after flying from San Francisco, officials said, the latest in a series of recent incidents involving aircraft manufactured by the company.
United Flight 433 left San Francisco at 10:20 a.m. and landed at Rogue Valley International-Medford Airport in Medford shortly before noon, according to FlightAware. The airport’s director, Amber Judd, said the plane landed safely without incident and the external panel was discovered missing during a post-flight inspection.
The airport paused operations to check the runway and airfield for debris, Judd said, and none was found.
Judd said she believed the United ground crew or pilots doing routine inspection before the next flight were the ones who noticed the missing panel.
A United Airlines spokesperson said via email that the flight was carrying 139 passengers and six crew members, and no emergency was declared because there was no indication of the damage during the flight.
“After the aircraft was parked at the gate, it was discovered to be missing an external panel,” the United spokesperson said. “We’ll conduct a thorough examination of the plane and perform all the needed repairs before it returns to service. We’ll also conduct an investigation to better understand how this damage occurred.”
The missing panel was on the underside of the aircraft where the wing meets the body and just next to the landing gear, United said.
According to airfleets.net, the plane made its first flight in April 1998 and was delivered to Continental Airlines in December of that year. United Airlines has operated it since Nov. 30, 2011. It is a 737-824, part of the 737-800 series that was a precursor to the Max.
Boeing said, also via email, that it would defer comment to United about the carrier’s fleet and operations.
In January a panel that plugged a space left for an extra emergency door blew off a Max 9 jet in midair just minutes after an Alaska Airlines flight took off from Portland, leaving a gaping hole and forcing pilots to make an emergency landing. There were no serious injuries.
The door plug was eventually found in the backyard of a high school physics teacher in southwest Portland, along with other debris from the flight scattered nearby. The Department of Justice has launched a criminal investigation.
On March 6, fumes detected in the cabin of a Boeing 737-800 Alaska Airlines flight destined for Phoenix caused pilots to head back to the Portland airport.
The Port of Portland said passengers and crew noticed the fumes and the flight landed safely. Seven people including passengers and crew requested medical evaluations, but no one was hospitalized, officials said.
torontosun.com
Author of the article:Associated Press
Associated Press
Published Mar 15, 2024 • Last updated 4 days ago • 2 minute read
PORTLAND, Ore. — A post-flight inspection revealed a missing panel on a Boeing 737-800 that had just arrived at its destination in southern Oregon on Friday after flying from San Francisco, officials said, the latest in a series of recent incidents involving aircraft manufactured by the company.
United Flight 433 left San Francisco at 10:20 a.m. and landed at Rogue Valley International-Medford Airport in Medford shortly before noon, according to FlightAware. The airport’s director, Amber Judd, said the plane landed safely without incident and the external panel was discovered missing during a post-flight inspection.
The airport paused operations to check the runway and airfield for debris, Judd said, and none was found.
Judd said she believed the United ground crew or pilots doing routine inspection before the next flight were the ones who noticed the missing panel.
A United Airlines spokesperson said via email that the flight was carrying 139 passengers and six crew members, and no emergency was declared because there was no indication of the damage during the flight.
“After the aircraft was parked at the gate, it was discovered to be missing an external panel,” the United spokesperson said. “We’ll conduct a thorough examination of the plane and perform all the needed repairs before it returns to service. We’ll also conduct an investigation to better understand how this damage occurred.”
The missing panel was on the underside of the aircraft where the wing meets the body and just next to the landing gear, United said.
According to airfleets.net, the plane made its first flight in April 1998 and was delivered to Continental Airlines in December of that year. United Airlines has operated it since Nov. 30, 2011. It is a 737-824, part of the 737-800 series that was a precursor to the Max.
Boeing said, also via email, that it would defer comment to United about the carrier’s fleet and operations.
In January a panel that plugged a space left for an extra emergency door blew off a Max 9 jet in midair just minutes after an Alaska Airlines flight took off from Portland, leaving a gaping hole and forcing pilots to make an emergency landing. There were no serious injuries.
The door plug was eventually found in the backyard of a high school physics teacher in southwest Portland, along with other debris from the flight scattered nearby. The Department of Justice has launched a criminal investigation.
On March 6, fumes detected in the cabin of a Boeing 737-800 Alaska Airlines flight destined for Phoenix caused pilots to head back to the Portland airport.
The Port of Portland said passengers and crew noticed the fumes and the flight landed safely. Seven people including passengers and crew requested medical evaluations, but no one was hospitalized, officials said.
Boeing plane found to have missing panel after flight from California to Oregon
A Boeing 737-800 was found to have a missing panel after a United Airlines flight arrived at its destination in southern Oregon on Friday
No biggie. It was on the wingbox. It's not a pressurized part of the plane.Boeing plane found to have missing panel after flight from California to Oregon
Author of the article:Associated Press
Associated Press
Published Mar 15, 2024 • Last updated 4 days ago • 2 minute read
PORTLAND, Ore. — A post-flight inspection revealed a missing panel on a Boeing 737-800 that had just arrived at its destination in southern Oregon on Friday after flying from San Francisco, officials said, the latest in a series of recent incidents involving aircraft manufactured by the company.
United Flight 433 left San Francisco at 10:20 a.m. and landed at Rogue Valley International-Medford Airport in Medford shortly before noon, according to FlightAware. The airport’s director, Amber Judd, said the plane landed safely without incident and the external panel was discovered missing during a post-flight inspection.
The airport paused operations to check the runway and airfield for debris, Judd said, and none was found.
Judd said she believed the United ground crew or pilots doing routine inspection before the next flight were the ones who noticed the missing panel.
A United Airlines spokesperson said via email that the flight was carrying 139 passengers and six crew members, and no emergency was declared because there was no indication of the damage during the flight.
“After the aircraft was parked at the gate, it was discovered to be missing an external panel,” the United spokesperson said. “We’ll conduct a thorough examination of the plane and perform all the needed repairs before it returns to service. We’ll also conduct an investigation to better understand how this damage occurred.”
The missing panel was on the underside of the aircraft where the wing meets the body and just next to the landing gear, United said.
According to airfleets.net, the plane made its first flight in April 1998 and was delivered to Continental Airlines in December of that year. United Airlines has operated it since Nov. 30, 2011. It is a 737-824, part of the 737-800 series that was a precursor to the Max.
Boeing said, also via email, that it would defer comment to United about the carrier’s fleet and operations.
In January a panel that plugged a space left for an extra emergency door blew off a Max 9 jet in midair just minutes after an Alaska Airlines flight took off from Portland, leaving a gaping hole and forcing pilots to make an emergency landing. There were no serious injuries.
The door plug was eventually found in the backyard of a high school physics teacher in southwest Portland, along with other debris from the flight scattered nearby. The Department of Justice has launched a criminal investigation.
On March 6, fumes detected in the cabin of a Boeing 737-800 Alaska Airlines flight destined for Phoenix caused pilots to head back to the Portland airport.
The Port of Portland said passengers and crew noticed the fumes and the flight landed safely. Seven people including passengers and crew requested medical evaluations, but no one was hospitalized, officials said.
Boeing plane found to have missing panel after flight from California to Oregon
A Boeing 737-800 was found to have a missing panel after a United Airlines flight arrived at its destination in southern Oregon on Friday
FBI tells passengers on the Alaska Airlines flight that lost a panel they might be crime victims
Author of the article:Associated Press
Associated Press
David Koenig
Published Mar 22, 2024 • Last updated 1 day ago • 2 minute read
The FBI has told passengers on the Alaska Airlines Boeing 737 Max that lost a door-plug panel in midflight that they might be victims of a crime.
“I’m contacting you because we have identified you as a possible victim of a crime,” a victim specialist from the federal agency’s Seattle office wrote in the letters, which passengers received this week. “This case is currently under investigation by the FBI.”
The plane was flying 16,000 feet (4,800 metres) over Oregon on Jan. 5 when the panel blew out, leaving a gaping hole in the side. The rapid loss of cabin pressure caused oxygen masks to drop from the ceiling, and suction as air rushed from the hole exerted force on people inside the plane.
Pilots were able to land safely in Portland, Oregon, and none of the 171 passengers and six crew members were seriously injured. Investigators say it appears that four bolts used to help secure the panel were missing after the plane was worked on at a Boeing factory in Renton, Washington.
Published reports and government officials have said the U.S. Justice Department has opened a criminal investigation into whether the panel blowout violated terms of a 2021 settlement that let Boeing avoid prosecution for allegedly misleading regulators who certified the 737 Max.
The settlement followed two crashes of Boeing Max jets in 2018 and 2019 that killed a total of 346 people.
Mark Lindquist, a lawyer representing some of the passengers on the Alaska Airlines flight in a lawsuit against Boeing, shared the FBI letter with The Associated Press. The notice gave recipients an email address, a phone number, a case number and a personal identification number so they can share questions and concerns.
“A criminal investigation can be a lengthy undertaking, and, for several reasons, we cannot tell you about its progress at this time. A victim of a federal crime is entitled to receive certain services,” the letter stated.
The FBI letter did not name Boeing, which declined to comment Friday. Alaska Airlines said, “We are fully cooperating and do not believe we are a target of the investigation.”
The National Transportation Safety Board, the Federal Aviation Administration and the Justice Department are conducting separate investigations of Boeing.
Lindquist said he and his clients welcome the Justice Department’s investigation.
“We want accountability, answers, and safer planes,” he said. “The DOJ and the FBI bring significant leverage and resources that I’m confident will help our case and help the flying public as well.”
The decision to designate the Alaska passengers as potential crime victims is a turnaround for the Justice Department, which a few years ago argued that families of passengers who died in the Max crashes did not meet the legal definition of crime victims.
A federal judge in Texas, however, ruled that the families did meet the standard. He said that under federal law, the Justice Department should have told them about secret negotiations with Boeing that produced the 2021 settlement.
Robert Clifford, a Chicago lawyer representing some of those families, said his clients are grateful that the Justice Department is following a different policy with the Alaska passengers.
“They are thankful that it is happening,” Clifford said. “To be clear: They are not thanking DOJ for doing the right thing. They were forced to do the right thing.”
torontosun.com
Author of the article:Associated Press
Associated Press
David Koenig
Published Mar 22, 2024 • Last updated 1 day ago • 2 minute read
The FBI has told passengers on the Alaska Airlines Boeing 737 Max that lost a door-plug panel in midflight that they might be victims of a crime.
“I’m contacting you because we have identified you as a possible victim of a crime,” a victim specialist from the federal agency’s Seattle office wrote in the letters, which passengers received this week. “This case is currently under investigation by the FBI.”
The plane was flying 16,000 feet (4,800 metres) over Oregon on Jan. 5 when the panel blew out, leaving a gaping hole in the side. The rapid loss of cabin pressure caused oxygen masks to drop from the ceiling, and suction as air rushed from the hole exerted force on people inside the plane.
Pilots were able to land safely in Portland, Oregon, and none of the 171 passengers and six crew members were seriously injured. Investigators say it appears that four bolts used to help secure the panel were missing after the plane was worked on at a Boeing factory in Renton, Washington.
Published reports and government officials have said the U.S. Justice Department has opened a criminal investigation into whether the panel blowout violated terms of a 2021 settlement that let Boeing avoid prosecution for allegedly misleading regulators who certified the 737 Max.
The settlement followed two crashes of Boeing Max jets in 2018 and 2019 that killed a total of 346 people.
Mark Lindquist, a lawyer representing some of the passengers on the Alaska Airlines flight in a lawsuit against Boeing, shared the FBI letter with The Associated Press. The notice gave recipients an email address, a phone number, a case number and a personal identification number so they can share questions and concerns.
“A criminal investigation can be a lengthy undertaking, and, for several reasons, we cannot tell you about its progress at this time. A victim of a federal crime is entitled to receive certain services,” the letter stated.
The FBI letter did not name Boeing, which declined to comment Friday. Alaska Airlines said, “We are fully cooperating and do not believe we are a target of the investigation.”
The National Transportation Safety Board, the Federal Aviation Administration and the Justice Department are conducting separate investigations of Boeing.
Lindquist said he and his clients welcome the Justice Department’s investigation.
“We want accountability, answers, and safer planes,” he said. “The DOJ and the FBI bring significant leverage and resources that I’m confident will help our case and help the flying public as well.”
The decision to designate the Alaska passengers as potential crime victims is a turnaround for the Justice Department, which a few years ago argued that families of passengers who died in the Max crashes did not meet the legal definition of crime victims.
A federal judge in Texas, however, ruled that the families did meet the standard. He said that under federal law, the Justice Department should have told them about secret negotiations with Boeing that produced the 2021 settlement.
Robert Clifford, a Chicago lawyer representing some of those families, said his clients are grateful that the Justice Department is following a different policy with the Alaska passengers.
“They are thankful that it is happening,” Clifford said. “To be clear: They are not thanking DOJ for doing the right thing. They were forced to do the right thing.”
FBI tells passengers on the Alaska Airlines flight that lost a panel they might be crime victims
The FBI has passengers on the Alaska Airlines Boeing 737 Max that lost a door-plug panel in midflight that they might be victims of a crime.
Boeing CEO to step down in management shake-up as manufacturing issues plague storied plane maker
Author of the article:Associated Press
Associated Press
David Koenig
Published Mar 25, 2024 • 5 minute read
Boeing
It was reported that Boeing chief executive, David Calhoun, would step down at the end of 2024 as part of a broad management shake-up, March 25, 2024.
A leadership shake-up at Boeing, including news Monday that its top executive plans to step down, highlights the difficult path facing the iconic aircraft manufacturer as it tries to navigate through yet another safety crisis.
CEO David Calhoun, who has been under unrelenting pressure since a panel blew off a Boeing 737 Max jetliner during a January flight, said he would retire at the end of the year. He said the decision to leave was his and the timing would allow for an orderly transition.
The head of the company’s commercial airplanes unit, Stan Deal, is already out. Boeing said he was replaced immediately by Stephanie Pope, a fast-rising insider who just became chief operating officer on Jan. 1.
In a third high-profile decision, board Chairman Lawrence Kellner, a former Continental Airlines chief, won’t stand for reelection in May, Boeing said. A former Qualcomm CEO who was appointed to succeed Kellner will lead the search for Calhoun’s replacement.
Calhoun was on the Boeing board during its worst time — the crashes of two 737 Max planes in 2018 and 2019 that killed 346 people. He leaves with the company under intense scrutiny from regulators and lawmakers since a door-plug panel blew off a brand-new Alaska Airlines Max jet in midflight on Jan. 5.
Investigators say bolts that help keep the panel in place were missing after repair work at the Boeing factory.
The Federal Aviation Administration reviewed Boeing’s 737 factory near Seattle and gave the company failing grades on nearly three dozen aspects of production. The company has until late May to give the FAA a plan for improvement. In the meantime, the federal agency is limiting production of 737s.
The FBI recently told passengers from the Alaska Airlines flight that they might be victims of a crime.
Airline executives have expressed their frustration with Boeing, and even minor incidents involving jets the company produced are attracting extra attention.
In a note to employees on Monday, Calhoun called the Alaska Airlines blowout a “watershed moment for Boeing” that requires a “total commitment to safety and quality at every level of our company.”
“The eyes of the world are on us, and I know we will come through this moment a better company, building on all the learnings we accumulated as we worked together to rebuild Boeing over the last number of years,” he said.
Boeing’s most significant effort to improve quality has been opening discussions about bringing Spirit AeroSystems, which builds fuselages for the Max and many parts for that and other Boeing planes, back into the company.
Mistakes made at Spirit, which Boeing spun off nearly 20 years ago, have compounded the company’s problems. Bringing the work of the supplier back in-house would, in theory, give Boeing more control over the quality of manufacturing key airplane components.
Calhoun said the two companies were making progress in talks “and it’s very important.”
Calhoun had been a Boeing director since 2009 when he became CEO in January 2020, replacing Dennis Muilenburg, who was fired in the aftermath of the Max crashes. In 2021, Boeing’s board raised the mandatory retirement age for CEO to keep Calhoun in the job.
He oversaw the Max’s return to service after a worldwide grounding that lasted nearly two years, and orders for the plane quickly picked up. Since then, however, a series of manufacturing flaws have delayed deliveries of new 737s and larger 787 Dreamliners to airlines, forcing the carriers to reduce growth plans.
Boeing has not filed its proxy statement for 2023, but previous filings show that Calhoun received compensation valued at more than $64.6 million from 2020 through 2022. Almost all of it was in the form of stock awards, options and bonuses.
The company, based in Arlington, Virginia, has lost more than $23 billion since Calhoun took over, although most of that is residual damage from the two Max crashes in Indonesia and Ethiopia. Boeing shares have fallen more than 40% in that time — 24% since the Alaska incident, through trading on Friday.
Last week, Chief Financial Officer Brian West warned that Boeing burned between $4 billion and $4.5 billion more cash than it expected in the first quarter as it slowed down airplane production after the Alaska Airlines accident.
The company tapped former Qualcomm CEO Steven Mollenkopf to become the new board chairman and lead the search for Calhoun’s replacement.
Some Boeing critics in Congress said the shake-up in the top ranks is not enough and that Boeing needs to worry more about safety and less about producing more airplanes. That view is shared by a leading Boeing whistleblower.
“It is going to be hard to fix the culture, but the people at Boeing (who build planes) are capable of it,” said Ed Pierson, a former manager at Boeing’s 737 factory who is now director of a safety foundation. “Those employees need to feel valued and supported instead of (management) just directing them and pressuring them to produce planes.”
The focus on Boeing since early January took some of the surprise out of Monday’s news. Citi analyst Jason Gursky called the shake-up “both predictable and thoughtful.”
Some analysts had viewed the fast-rising Pope as a likely successor to Calhoun. Gursky said, however, that her move to lead commercial airplanes opens the way for an outsider to become CEO.
Before her promotion to chief operating officer at the beginning of the year, Pope, 51, was president and CEO of Boeing’s services business, where she dealt with both airline and military customers. She served as chief financial officer of the airplanes division before that.
Richard Aboulafia, a longtime aerospace analyst and now a consultant at AeroDynamic Advisory, said the management shake-up “is likely to be a pivotal moment in Boeing’s history, and probably a very positive one,” but the outcome depends on the next CEO.
Rebuilding Boeing will be “very hard, and a long road,” Aboulafia said. Putting people with technical skill in higher leadership positions would be a plus, he said.
He said Patrick Shanahan — a former Boeing executive and acting U.S. defense secretary during the Trump administration who has led Spirit AeroSystems since the fall — would be a “great choice.”
Cai von Rumohr, an aerospace analyst at financial services firm TD Cowen, said the management changes are “a partial step toward changing its culture to underscore safety and rebuild investor confidence in the company.” He said the fact that Calhoun gave more than eight months’ notice will help the Boeing board make “a considered decision” instead of “a knee-jerk reaction.”
The CEO of Irish airline Ryanair, a major Boeing customer, welcomed the management changes, including the replacement of Deal at the head of the commercial airplanes division. Michael O’Leary said in a video posted on X that Deal did a good job at Boeing sales, “but he’s not the person to turn around the operation in Seattle, and that’s where most of the problems have been in recent years.”
torontosun.com
Author of the article:Associated Press
Associated Press
David Koenig
Published Mar 25, 2024 • 5 minute read
Boeing
It was reported that Boeing chief executive, David Calhoun, would step down at the end of 2024 as part of a broad management shake-up, March 25, 2024.
A leadership shake-up at Boeing, including news Monday that its top executive plans to step down, highlights the difficult path facing the iconic aircraft manufacturer as it tries to navigate through yet another safety crisis.
CEO David Calhoun, who has been under unrelenting pressure since a panel blew off a Boeing 737 Max jetliner during a January flight, said he would retire at the end of the year. He said the decision to leave was his and the timing would allow for an orderly transition.
The head of the company’s commercial airplanes unit, Stan Deal, is already out. Boeing said he was replaced immediately by Stephanie Pope, a fast-rising insider who just became chief operating officer on Jan. 1.
In a third high-profile decision, board Chairman Lawrence Kellner, a former Continental Airlines chief, won’t stand for reelection in May, Boeing said. A former Qualcomm CEO who was appointed to succeed Kellner will lead the search for Calhoun’s replacement.
Calhoun was on the Boeing board during its worst time — the crashes of two 737 Max planes in 2018 and 2019 that killed 346 people. He leaves with the company under intense scrutiny from regulators and lawmakers since a door-plug panel blew off a brand-new Alaska Airlines Max jet in midflight on Jan. 5.
Investigators say bolts that help keep the panel in place were missing after repair work at the Boeing factory.
The Federal Aviation Administration reviewed Boeing’s 737 factory near Seattle and gave the company failing grades on nearly three dozen aspects of production. The company has until late May to give the FAA a plan for improvement. In the meantime, the federal agency is limiting production of 737s.
The FBI recently told passengers from the Alaska Airlines flight that they might be victims of a crime.
Airline executives have expressed their frustration with Boeing, and even minor incidents involving jets the company produced are attracting extra attention.
In a note to employees on Monday, Calhoun called the Alaska Airlines blowout a “watershed moment for Boeing” that requires a “total commitment to safety and quality at every level of our company.”
“The eyes of the world are on us, and I know we will come through this moment a better company, building on all the learnings we accumulated as we worked together to rebuild Boeing over the last number of years,” he said.
Boeing’s most significant effort to improve quality has been opening discussions about bringing Spirit AeroSystems, which builds fuselages for the Max and many parts for that and other Boeing planes, back into the company.
Mistakes made at Spirit, which Boeing spun off nearly 20 years ago, have compounded the company’s problems. Bringing the work of the supplier back in-house would, in theory, give Boeing more control over the quality of manufacturing key airplane components.
Calhoun said the two companies were making progress in talks “and it’s very important.”
Calhoun had been a Boeing director since 2009 when he became CEO in January 2020, replacing Dennis Muilenburg, who was fired in the aftermath of the Max crashes. In 2021, Boeing’s board raised the mandatory retirement age for CEO to keep Calhoun in the job.
He oversaw the Max’s return to service after a worldwide grounding that lasted nearly two years, and orders for the plane quickly picked up. Since then, however, a series of manufacturing flaws have delayed deliveries of new 737s and larger 787 Dreamliners to airlines, forcing the carriers to reduce growth plans.
Boeing has not filed its proxy statement for 2023, but previous filings show that Calhoun received compensation valued at more than $64.6 million from 2020 through 2022. Almost all of it was in the form of stock awards, options and bonuses.
The company, based in Arlington, Virginia, has lost more than $23 billion since Calhoun took over, although most of that is residual damage from the two Max crashes in Indonesia and Ethiopia. Boeing shares have fallen more than 40% in that time — 24% since the Alaska incident, through trading on Friday.
Last week, Chief Financial Officer Brian West warned that Boeing burned between $4 billion and $4.5 billion more cash than it expected in the first quarter as it slowed down airplane production after the Alaska Airlines accident.
The company tapped former Qualcomm CEO Steven Mollenkopf to become the new board chairman and lead the search for Calhoun’s replacement.
Some Boeing critics in Congress said the shake-up in the top ranks is not enough and that Boeing needs to worry more about safety and less about producing more airplanes. That view is shared by a leading Boeing whistleblower.
“It is going to be hard to fix the culture, but the people at Boeing (who build planes) are capable of it,” said Ed Pierson, a former manager at Boeing’s 737 factory who is now director of a safety foundation. “Those employees need to feel valued and supported instead of (management) just directing them and pressuring them to produce planes.”
The focus on Boeing since early January took some of the surprise out of Monday’s news. Citi analyst Jason Gursky called the shake-up “both predictable and thoughtful.”
Some analysts had viewed the fast-rising Pope as a likely successor to Calhoun. Gursky said, however, that her move to lead commercial airplanes opens the way for an outsider to become CEO.
Before her promotion to chief operating officer at the beginning of the year, Pope, 51, was president and CEO of Boeing’s services business, where she dealt with both airline and military customers. She served as chief financial officer of the airplanes division before that.
Richard Aboulafia, a longtime aerospace analyst and now a consultant at AeroDynamic Advisory, said the management shake-up “is likely to be a pivotal moment in Boeing’s history, and probably a very positive one,” but the outcome depends on the next CEO.
Rebuilding Boeing will be “very hard, and a long road,” Aboulafia said. Putting people with technical skill in higher leadership positions would be a plus, he said.
He said Patrick Shanahan — a former Boeing executive and acting U.S. defense secretary during the Trump administration who has led Spirit AeroSystems since the fall — would be a “great choice.”
Cai von Rumohr, an aerospace analyst at financial services firm TD Cowen, said the management changes are “a partial step toward changing its culture to underscore safety and rebuild investor confidence in the company.” He said the fact that Calhoun gave more than eight months’ notice will help the Boeing board make “a considered decision” instead of “a knee-jerk reaction.”
The CEO of Irish airline Ryanair, a major Boeing customer, welcomed the management changes, including the replacement of Deal at the head of the commercial airplanes division. Michael O’Leary said in a video posted on X that Deal did a good job at Boeing sales, “but he’s not the person to turn around the operation in Seattle, and that’s where most of the problems have been in recent years.”
Boeing CEO to step down in management shake-up as manufacturing issues plague storied plane maker
This comes as manufacturing issues plague storied plane maker.
Pilot says brakes seemed less effective than usual before a United Airlines jet slid off a taxiway
Author of the article:Associated Press
Associated Press
Published Apr 04, 2024 • 1 minute read
United-Flight-Rolls-Off-Runway
HOUSTON (AP) — The captain of a United Airlines jet said the brakes seemed less effective than normal and the plane and brake pedals shook violently just before the Boeing 737 Max slid off a taxiway in Houston last month.
According to a preliminary report released Thursday by the National Transportation Safety Board, the pilots were uncertain about ground conditions as they broke through clouds and saw the runway at George Bush Intercontinental Airport.
The captain said the runway looked dry, but the co-pilot thought it looked wet.
The captain wanted to slow gradually once the plane touched down, but as he neared the end of the runway he steered the plane on to a taxiway.
The plane was heavily damaged — the left main landing gear broke off — when it rolled into a grassy area at 25 mph (40 kph) and hit a concrete structure. None of the passengers or crew members were hurt, the NTSB said.
The preliminary report did not state a reason for the March 8 accident. The NTSB often takes a year or more to reach conclusions.
The accident was among a string of incidents involving United planes that led the chief executive to reassure passengers about the safety of his airline.
torontosun.com
Author of the article:Associated Press
Associated Press
Published Apr 04, 2024 • 1 minute read
United-Flight-Rolls-Off-Runway
HOUSTON (AP) — The captain of a United Airlines jet said the brakes seemed less effective than normal and the plane and brake pedals shook violently just before the Boeing 737 Max slid off a taxiway in Houston last month.
According to a preliminary report released Thursday by the National Transportation Safety Board, the pilots were uncertain about ground conditions as they broke through clouds and saw the runway at George Bush Intercontinental Airport.
The captain said the runway looked dry, but the co-pilot thought it looked wet.
The captain wanted to slow gradually once the plane touched down, but as he neared the end of the runway he steered the plane on to a taxiway.
The plane was heavily damaged — the left main landing gear broke off — when it rolled into a grassy area at 25 mph (40 kph) and hit a concrete structure. None of the passengers or crew members were hurt, the NTSB said.
The preliminary report did not state a reason for the March 8 accident. The NTSB often takes a year or more to reach conclusions.
The accident was among a string of incidents involving United planes that led the chief executive to reassure passengers about the safety of his airline.
Pilot says brakes seemed less effective than usual before a United Airlines jet slid off a taxiway
The captain said the runway looked dry, but the co-pilot thought it looked wet.
Engine cover on Southwest Airlines plane rips off, forcing flight to return to Denver
Author of the article:Associated Press
Associated Press
Associated Press
Published Apr 07, 2024 • 1 minute read
DENVER — A Southwest Airlines jet returned to Denver Sunday morning after the engine cover fell off and struck the wing flap during takeoff, according to the Federal Aviation Administration.
The Boeing 737 landed safely, and the passengers headed to Houston were being put onto another aircraft, Southwest Airlines said in a statement.
“We apologize for the inconvenience of their delay, but place our highest priority on ultimate Safety for our Customers and Employees. Our Maintenance teams are reviewing the aircraft,” the statement reads.
It’s the second mishap this week for the airline, with a flight from Texas canceled Thursday after a report of an engine fire. The Lubbock, Texas, fire department confirmed online a fire in one of the two engines that needed extinguishing.
The FAA is investigating both incidents.
Both planes were Boeing 737-800s, an older model than the 737 Max.
torontosun.com
Author of the article:Associated Press
Associated Press
Associated Press
Published Apr 07, 2024 • 1 minute read
DENVER — A Southwest Airlines jet returned to Denver Sunday morning after the engine cover fell off and struck the wing flap during takeoff, according to the Federal Aviation Administration.
The Boeing 737 landed safely, and the passengers headed to Houston were being put onto another aircraft, Southwest Airlines said in a statement.
“We apologize for the inconvenience of their delay, but place our highest priority on ultimate Safety for our Customers and Employees. Our Maintenance teams are reviewing the aircraft,” the statement reads.
It’s the second mishap this week for the airline, with a flight from Texas canceled Thursday after a report of an engine fire. The Lubbock, Texas, fire department confirmed online a fire in one of the two engines that needed extinguishing.
The FAA is investigating both incidents.
Both planes were Boeing 737-800s, an older model than the 737 Max.
Engine cover on Southwest Airlines plane rips off, forcing flight to return to Denver
A Southwest Airlines jet returned to Denver Sunday morning after the engine cover fell off and struck the wing flap during takeoff.
Warning light prompts Air Canada Boeing 737 to make emergency landing in Idaho
Author of the article:Associated Press
Associated Press
Published Apr 10, 2024 • 1 minute read
An Air Canada Boeing 737 Max 8 is followed by fire trucks after landing at Boise Airport. Pilots diverted to the Idaho city, from a Mexico to Vancouver flight, after a warning indication was received in the cocpit. The plane landed without incident Tuesday morning. April 9, 2024.
BOISE, Idaho. (AP) — An Air Canada Boeing 737 Max 8 landed safely in Idaho after experiencing an in-flight emergency Tuesday when pilots received a warning light in the flight deck, airline and airport officials said.
The issue was determined to be a faulty cargo hold indicator, Air Canada said in an email, without elaborating.
Boeing has been under intense scrutiny from regulators and lawmakers since January, when part of the fuselage on a Boeing 737 Max 9 jet blew out midflight, exposing a gaping hole and forcing pilots to make an emergency landing. It’s the deepest crisis for the iconic aircraft manufacturer since a pair of deadly crashes involving Max jets in 2018 in Indonesia and 2019 in Ethiopia.
On Tuesday, Air Canada said Flight 997 from Mexico City to Vancouver, Canada, diverted to Boise Airport as a precautionary measure after the warning light came on.
The aircraft landed normally at 10:59 a.m. and was met by first responders, airline officials said. The plane will stay in Boise at least overnight, according to airline officials. According to Transport Canada, the plane has been registered to Air Canada since Jan. 29, 2019. Its year of manufacture was also listed as 2019.
The 122 passengers and six crew members were waiting in Boise on Tuesday for a different jet to take them to Vancouver, airline officials said. No injuries were reported, Boise Airport officials said in a post on Facebook.
Boeing officials didn’t immediately respond to an email seeking comment Tuesday.
Airline executives have expressed their frustration with Boeing, and even minor incidents involving jets the company produced are attracting extra attention.
A Southwest Airlines Boeing 737 safely returned to Denver on Sunday after the engine cover fell off and struck the wing flap during takeoff, according to the Federal Aviation Administration.
torontosun.com
Author of the article:Associated Press
Associated Press
Published Apr 10, 2024 • 1 minute read
An Air Canada Boeing 737 Max 8 is followed by fire trucks after landing at Boise Airport. Pilots diverted to the Idaho city, from a Mexico to Vancouver flight, after a warning indication was received in the cocpit. The plane landed without incident Tuesday morning. April 9, 2024.
BOISE, Idaho. (AP) — An Air Canada Boeing 737 Max 8 landed safely in Idaho after experiencing an in-flight emergency Tuesday when pilots received a warning light in the flight deck, airline and airport officials said.
The issue was determined to be a faulty cargo hold indicator, Air Canada said in an email, without elaborating.
Boeing has been under intense scrutiny from regulators and lawmakers since January, when part of the fuselage on a Boeing 737 Max 9 jet blew out midflight, exposing a gaping hole and forcing pilots to make an emergency landing. It’s the deepest crisis for the iconic aircraft manufacturer since a pair of deadly crashes involving Max jets in 2018 in Indonesia and 2019 in Ethiopia.
On Tuesday, Air Canada said Flight 997 from Mexico City to Vancouver, Canada, diverted to Boise Airport as a precautionary measure after the warning light came on.
The aircraft landed normally at 10:59 a.m. and was met by first responders, airline officials said. The plane will stay in Boise at least overnight, according to airline officials. According to Transport Canada, the plane has been registered to Air Canada since Jan. 29, 2019. Its year of manufacture was also listed as 2019.
The 122 passengers and six crew members were waiting in Boise on Tuesday for a different jet to take them to Vancouver, airline officials said. No injuries were reported, Boise Airport officials said in a post on Facebook.
Boeing officials didn’t immediately respond to an email seeking comment Tuesday.
Airline executives have expressed their frustration with Boeing, and even minor incidents involving jets the company produced are attracting extra attention.
A Southwest Airlines Boeing 737 safely returned to Denver on Sunday after the engine cover fell off and struck the wing flap during takeoff, according to the Federal Aviation Administration.
Warning light prompts Air Canada Boeing 737 to make emergency landing in Idaho
The issue was determined to be a faulty cargo hold indicator, Air Canada said in an email, without elaborating.
Boeing posts a $355 million loss as the plane maker tries to dig out from under its latest crisis
Author of the article:Associated Press
Associated Press
David Koenig
Published Apr 24, 2024 • 3 minute read
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 is on fixing its manufacturing issues, not the financial results.
Company executives have been forced to talk more about safety and less about finances since a door plug blew out of a Boeing 737 Max during an Alaska Airlines flight in January, leaving a gaping hole in the plane.
The accident halted progress that Boeing seemed to be making while recovering from two deadly crashes of Max jets in 2018 and 2019.
Those crashes in Indonesia and Ethiopia now are back in the spotlight, too. The families of some of the 346 people killed in the crashes were scheduled to meet with U.S. Justice Department officials later Wednesday. Family members have tried unsuccessfully to undo a 2021 settlement between the department and Boeing that let the company avoid criminal prosecution.
“Although we report first-quarter financial results today, our focus remains on the sweeping actions we are taking following the Alaska Airlines Flight 1282 accident,” Calhoun told employees in a memo Wednesday.
He ticked off a series of actions the company is taking and reported “significant progress” in improving manufacturing quality, much of it by slowing down production, which means fewer planes for its airline customers. Calhoun told CNBC that closer inspections were resulting in 80% fewer flaws in the fuselages coming from key supplier Spirit AeroSystems.
“Near term, yes, we are in a tough moment,” he wrote to employees. “Lower deliveries can be difficult for our customers and for our financials. But safety and quality must and will come above all else.”
Calhoun, who will step down at the end of the year, said again he is fully confident the company will recover.
Boeing said the first-quarter loss, excluding special items came to $1.13 per share, which was better than the loss of $1.63 per share that analysts had forecast, according to a FactSet survey.
Revenue fell 7.5%, to $16.57 billion.
Company shares rose 3% shortly after the start of morning trading.
Boeing stock has plunged by about one-third since the Alaska Airlines door-plug blowout. The Federal Aviation Administration has stepped up its oversight and given Boeing until late May to produce a plan to fix problems in manufacturing 737 Max jets. Airline customers are unhappy about not getting all the new planes that they had ordered because of delivery disruptions.
Investigators looking into the Alaska flight say bolts that help keep the door plug in place were missing after repair work at a Boeing factory. The FBI told passengers that they might be crime victims.
Several former and one current manager have reported various problems in manufacturing of Boeing 737 and 787 jetliners. The most recent, a quality engineer, told Congress last week that Boeing is taking manufacturing shortcuts that could eventually cause 787 Dreamliners to break apart. Boeing pushed back aggressively against his claims.
Boeing, however, has a couple things in its favor.
Along with Airbus, Boeing forms one-half of a duopoly that dominates the manufacturing of large passenger planes. Both companies have yearslong backlogs of orders from airlines eager for new, more fuel-efficient planes. And Boeing is a major defense contractor for the Pentagon and governments around the world.
Richard Aboulafia, a longtime industry analyst and consultant at AeroDynamic Advisory, said despite all the setbacks Boeing still has a powerful mix of products in high demand, technology and people.
“Even if they are No. 2 and have major issues, they are still in a very strong market and an industry that has very high barriers to entry,” he said.
And despite massive losses — about $24 billion in the last five years — the company is not at risk of failing, Aboulafia said.
“This isn’t General Motors in 2008 or Lockheed in 1971,” Aboulafia said, referring to two iconic corporations that needed massive government bailouts or loan guarantees to survive.
All of those factors help explain why 20 analysts in a FactSet survey rate Boeing shares as “Buy” or “Overweight” and only two have “Sell” ratings. (Five have “Hold” ratings.)
torontosun.com
Author of the article:Associated Press
Associated Press
David Koenig
Published Apr 24, 2024 • 3 minute read
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 is on fixing its manufacturing issues, not the financial results.
Company executives have been forced to talk more about safety and less about finances since a door plug blew out of a Boeing 737 Max during an Alaska Airlines flight in January, leaving a gaping hole in the plane.
The accident halted progress that Boeing seemed to be making while recovering from two deadly crashes of Max jets in 2018 and 2019.
Those crashes in Indonesia and Ethiopia now are back in the spotlight, too. The families of some of the 346 people killed in the crashes were scheduled to meet with U.S. Justice Department officials later Wednesday. Family members have tried unsuccessfully to undo a 2021 settlement between the department and Boeing that let the company avoid criminal prosecution.
“Although we report first-quarter financial results today, our focus remains on the sweeping actions we are taking following the Alaska Airlines Flight 1282 accident,” Calhoun told employees in a memo Wednesday.
He ticked off a series of actions the company is taking and reported “significant progress” in improving manufacturing quality, much of it by slowing down production, which means fewer planes for its airline customers. Calhoun told CNBC that closer inspections were resulting in 80% fewer flaws in the fuselages coming from key supplier Spirit AeroSystems.
“Near term, yes, we are in a tough moment,” he wrote to employees. “Lower deliveries can be difficult for our customers and for our financials. But safety and quality must and will come above all else.”
Calhoun, who will step down at the end of the year, said again he is fully confident the company will recover.
Boeing said the first-quarter loss, excluding special items came to $1.13 per share, which was better than the loss of $1.63 per share that analysts had forecast, according to a FactSet survey.
Revenue fell 7.5%, to $16.57 billion.
Company shares rose 3% shortly after the start of morning trading.
Boeing stock has plunged by about one-third since the Alaska Airlines door-plug blowout. The Federal Aviation Administration has stepped up its oversight and given Boeing until late May to produce a plan to fix problems in manufacturing 737 Max jets. Airline customers are unhappy about not getting all the new planes that they had ordered because of delivery disruptions.
Investigators looking into the Alaska flight say bolts that help keep the door plug in place were missing after repair work at a Boeing factory. The FBI told passengers that they might be crime victims.
Several former and one current manager have reported various problems in manufacturing of Boeing 737 and 787 jetliners. The most recent, a quality engineer, told Congress last week that Boeing is taking manufacturing shortcuts that could eventually cause 787 Dreamliners to break apart. Boeing pushed back aggressively against his claims.
Boeing, however, has a couple things in its favor.
Along with Airbus, Boeing forms one-half of a duopoly that dominates the manufacturing of large passenger planes. Both companies have yearslong backlogs of orders from airlines eager for new, more fuel-efficient planes. And Boeing is a major defense contractor for the Pentagon and governments around the world.
Richard Aboulafia, a longtime industry analyst and consultant at AeroDynamic Advisory, said despite all the setbacks Boeing still has a powerful mix of products in high demand, technology and people.
“Even if they are No. 2 and have major issues, they are still in a very strong market and an industry that has very high barriers to entry,” he said.
And despite massive losses — about $24 billion in the last five years — the company is not at risk of failing, Aboulafia said.
“This isn’t General Motors in 2008 or Lockheed in 1971,” Aboulafia said, referring to two iconic corporations that needed massive government bailouts or loan guarantees to survive.
All of those factors help explain why 20 analysts in a FactSet survey rate Boeing shares as “Buy” or “Overweight” and only two have “Sell” ratings. (Five have “Hold” ratings.)
Boeing posts a $355 million loss as the plane maker tries to dig out from under its latest crisis
Boeing said Wednesday that it lost $355 million on falling revenue in the first quarter, another sign of the crisis gripping the plane maker.