Page 8 - Boeing

Boeing CEO Ortberg signals portfolio review following $14 bn cash drain

The company has made progress in its turnaround, adjusting its factories and supplier base for higher production levels going forward, and addressing money-losing defense programs, Ortberg said

Boeing posts $3.8 bn loss in Q4, leading total loss to $35 bn since 2019

Boeing posted a fourth-quarter loss of USD 3.8 billion on Tuesday as a machinists strike and other problems continued to plague the troubled aircraft manufacturer. Boeing has lost more than USD 35 billion since 2019 following the crashes of two then-new Max jets that killed 346 people. The numbers Boeing released are in line with what the company pre-reported last week, including nearly USD 3 billion worth of charges in the period due to the labour stoppage, job cuts and problems with a number of government programmes. Boeing's loss per share was USD 5.46 per share, well above the USD 3.08 loss that Wall Street analysts expected, according to the data firm FactSet. The fourth quarter caps a rough year for Boeing. A strike by the machinists who assemble the best-selling 737 Max, along with the 777 jet and the 767 cargo plane at factories in Renton and Everett, Washington, halted production at those facilities and hampered Boeing's delivery capability. The walkout ended after more t

Boeing resumes 777X test flights after grounding in Aug due to engine issue

The grounding came just five weeks after it had started certification flights for the 777-9 with officials from the US aviation regulator onboard

Boeing's aircraft deliveries, orders in 2024 reflect company's rough year

Boeing delivered less than half the number of commercial aircraft to customers than its European rival in 2024 as the American aerospace giant's output suffered under intensified government scrutiny and a factory workers' strike, according to data released Tuesday. Boeing said it supplied 348 jetliners during the year. That was more than a third fewer than the 528 the company finished for airlines and leasing outfits in 2023 and less than half the number of jetliners that Airbus delivered last year. Deliveries are an important source of cash for plane manufacturers since buyers typically pay a large portion of the purchase price when their orders are fulfilled. More than three-quarters of the planes that Boeing furnished were 737 Max jets, a stark reminder of how integral its best-selling airline model has been to the company's fortunes and challenges. Boeing has lost money since 2019 following the crashes of two then-new Max jets that killed 346 people. The company expected to ram

Donating $1 million to Trump presidential inaugural fund, says Boeing

Boeing is joining many major US companies including General Motors, Ford, Microsoft and Meta in donating for the Jan. 20 event

Boeing culture overhaul a 'work in progress': Outgoing US transport secy

US aviation safety regulators dramatically stepped up scrutiny of the planemaker during Buttigieg's last year in office in response to the near-catastrophe

Air India becomes first Indian airline to offer Wi-Fi on domestic flights

In July last year, Vistara became the first Indian airline to provide Wi-Fi services on international flights. Vistara was merged into Air India in November

S Korean investigators extract black box data to find exact cause of crash

Grieving relatives of the victims of the South Korea plane crash gathered at the site to pay respects to their loved ones on New Year's Day, as officials said they've extracted data from one of the retrieved black boxes to find the exact cause of the crash. All but two of the 181 passengers and crew on board the Boeing 737-800 operated by Jeju Air died when it crashed at Muan International Airport, in southern South Korea, on Sunday. Video showed the aircraft without its landing gear deployed landing on its belly at high speed and then skidding off the end of the runaway into a concrete fence and bursting into flames. The footage showed the plane was experiencing an apparent engine problem in addition to the landing gear malfunction. Investigators say the pilot received a warning from air traffic controllers of possible bird strikes and the plane issued a distress signal before the crash. The Transport Ministry said in a statement Wednesday that it has completed works to extract da

Boeing secures year's largest 737 MAX order: 100 jets for Pegasus Airlines

The deal is worth $5.85 billion after typical industry discounts, according to estimated delivery prices from UK-based Cirium Ascend. Boeing shares rose 2.6 per cent

Boeing resumes 767 and 777 wide-body production after machinists' strike

The planemaker confirmed last week it restarted production of its best-selling 737 MAX jetliner in early December - about a month after the end of a seven-week strike

Boeing likely to restart 737 MAX production a month after strike ended

Getting the 737 MAX production line moving again is essential to the heavily debt-burdened planemaker's recovery, and Boeing has about 4,200 orders for the jetliner from airlines

Boeing lays off hundreds in Washington, California as part of planned cuts

Boeing has laid off hundreds of additional employees in Washington state and California as part of planned cuts that will eventually reduce the company's workforce by about 17,000. Nearly 400 Boeing employees were laid off in Washington state and more than 500 in California, news outlets reported Monday. The aerospace giant announced previously it would reduce its workforce by 10% in the coming months as it tries to recover from financial and regulatory troubles and a strike by its machinists that lasted almost two months. CEO Kelly Ortberg has said the strike did not cause the layoffs, which he said was the result of overstaffing. In November, the company started notifying workers who would be laid off. Notices filed with state employment agencies showed the first round of cuts impacted about 3,500 people around the country, The Seattle Times reported. Those cuts touched people in roles from engineers to recruiters to analysts and impacted Boeing's commercial, defense and global

Boeing to lay off 396 employees in Washington 'to align financial reality'

Boeing is trying to get production of its strongest-selling 737 MAX back on track, after a weeks-long strike by more than 33,000 US West Coast workers halted output of most of its commercial jets

Air India Express to add 65 planes, Air India 35 in next three years

Presently, Air India Express operates a fleet of approximately 90 aircraft, whereas full-service airline Air India has around 210 planes

Sunita Williams completes 6 months in space, to remain on ISS till February

Astronauts Sunita Williams and Butch Wilmore just completed six months on the International Space Station, on a mission which was initially scheduled for just one week

Boeing still not producing MAX planes after strike, says FAA administrator

FAA Administrator Mike Whitaker this week met with Boeing CEO Kelly Ortberg and toured Boeing's 737 plant in Renton, Washington, as it boosts oversight following the strike, which ended Nov 4

US judge rejects Boeing's fraud plea deal over diversity provision

Relatives of victims of the two 737 MAX crashes, which occurred in 2018 and 2019 and killed 346 people, have called the agreement a "sweetheart" deal that failed to adequately hold Boeing accountable

Boeing's new CEO Ortberg clips corporate jet trips in show of restraint

The 19 senior leaders have counted on five company-owned Bombardier Inc. Challenger 650 business jets and two customized 737 narrowbodies to help oversee the US planemaker's sprawling operation

FAA will not require urgent 737 MAX engine action after bird strikes

FAA Corrective Action Review Board reviewed the CFM LEAP-1B engine bird strikes which led to smoke entering two Boeing 737 MAX aircraft

Boeing CEO calls on employees to collaborate, be accountable after turmoil

Relations with workers have been particularly strained by a strike that lasted for more than seven weeks and consumed much of Ortberg's first months on the job