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☆ Boeing losses, problems continue to mount
▼ + stars: | 2024-04-24 | by ( Chris Isidore | ) edition.cnn.com time to read: +5 min

Boeing reported a core operating loss of $388 million, or $1.13 a share, from the $440 million it lost on that basis a year earlier. Plastic covers the exterior of the fuselage plug area of Alaska Airlines Boeing 737 Max 9 where a door plug on the plane blew off on a January 5 flight. The incident has sparked new focus on problems with the safety and quality controls at Boeing. Boeing has had a string of losses and problems with its planes’ quality dating back at least five years. It also announced plans to increase production of the 737 Max throughout 2024 in order to return to sustained profitability.

Persons: “, ”, Dave Calhoun, Max Organizations: New, New York CNN, Boeing, Revenue, Alaska Airlines, Alaska Airlines Boeing, Max, NTSB, Getty, Alaska Air, United Airlines, National Transportation Safety Board, Federal Aviation Administration, Justice Department Locations: New York, Alaska, Tuesday’s

☆ Boeing reports quarterly results before the bell. Here's what Wall Street expects
▼ + stars: | 2024-04-24 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

An aerial photo shows Boeing 737 Max airplanes parked on the tarmac at the Boeing Factory in Renton, Washington, on March 21, 2019. Here is what Wall Street expects for Boeing for the period that ended March 31, according to estimates from LSEG:Loss per share: $1.76 adjusted$1.76 adjusted Revenue: $16.23 billionBoeing has been hamstrung in ramping up production, especially of its best-selling 737 Max planes. After the door plug blew out on the Alaska Airlines Max 9 on Jan. 5, the Federal Aviation Administration has barred Boeing from increasing output. Questions abound for Boeing's lame duck CEO Dave Calhoun, who announced in March that he would step down by year-end. Among those questions: When will Boeing stabilize its production line and increase production of the 737 Max and other planes?

Persons: Dave Calhoun, Max Organizations: Boeing, Max, Boeing Factory, Alaska Airlines Max, Federal Aviation Administration, FAA Locations: Renton , Washington

☆ Boeing CEO Dave Calhoun was paid $32.8 million in 2023
▼ + stars: | 2024-04-05 | by ( Chris Isidore | ) edition.cnn.com time to read: +2 min

New York CNN —Boeing CEO Dave Calhoun received total compensation of $32.8 million for 2023, a 45% increase from the $22.6 million he received for 2022. Boeing did enjoy improved results in 2023 from Calhoun’s first two years running the troubled aircraft manufacturer. Whatever conclusions are reached, Boeing is accountable for what happened.”Last month Calhoun announced he would be retiring at later this year and that the company had launched a search for a new CEO. But stock and other compensation he had already received when taking the job brought his 2020 total compensation to $21.7 million. It climbed slowly steadily in the two subsequent years, bringing his total compensation to $64.6 million heading into 2023.

Persons: Dave Calhoun, Calhoun’s, Max, Calhoun, . Calhoun Organizations: New, New York CNN, Boeing, Alaska Airlines, National Transportation Safety Board Locations: New York, .

☆ Blinken grounded by problems with his Boeing jet
▼ + stars: | 2024-04-03 | by ( Chris Isidore | Jennifer Hansler | ) edition.cnn.com time to read: +2 min

Washington, DC CNN —US Secretary of State Antony Blinken is the latest person dealing with problems with a Boeing jet. This is the second time this year that Blinken has had an issue with a Boeing plane while traveling. The incident has sparked numerous investigations into the Boeing’s practices and public attention to a large number of other problems on subsequent flights with Boeing jets. Many of those came on older planes and issues, which typically would have not been reported, were likely not caused by anything Boeing did. But the subsequent incidents, which typically would have not been reported by the media, have focused more attention on questions about the quality and safety of Boeing jets.

Persons: Antony Blinken, Blinken, plane, Max Organizations: DC CNN, Boeing, State Department, Brussels, Air Force, Alaska Airlines, National Transportation Safety Locations: Washington, Europe, Ukraine, Gaza, Paris, Switzerland

☆ 'We need someone to fix Boeing.' Here's who could replace Calhoun as the troubled plane maker's CEO
▼ + stars: | 2024-03-26 | by ( Leslie Josephs | ) www.cnbc.com time to read: +3 min

An aerial photo shows Boeing 737 Max airplanes parked on the tarmac at the Boeing Factory in Renton, Washington, on March 21, 2019. Calhoun told CNBC on Monday that the decision to retire was "100%" his own and that he would be involved in finding his successor. "We need someone to fix Boeing," one major airline executive, who wasn't authorized to speak to the media, told CNBC after Boeing announced the management shake-up Monday. "I want somebody who knows how to handle a big, long-cycled business like ours," Calhoun told CNBC in an interview Monday while announcing his departure. Four-year Boeing board member Steve Mollenkopf, an ex-Qualcomm CEO who will take over as independent chairman of the board, will lead the search.

Persons: Dave Calhoun, Max, Larry Kellner, Stan Deal, Calhoun, wasn't, John Plueger, It's, Steve Mollenkopf, Cowen, Cai von Rumohr, here's Organizations: Boeing, Max, Boeing Factory, Monday, CNBC, Air Force One, Alaska Airlines, Air Lease, Airbus, Financial, Qualcomm Locations: Renton , Washington, China

Boeing CEO David Calhoun will step down from the embattled plane maker at the end of the year as part of a broad management shakeup Monday after a series of mishaps at one of America's iconic manufacturers. Stephanie Pope, the company's chief operating officer for less than three months, has taken over leadership of the key division. Boeing has been under intense pressure since early January, when a panel blew off a brand-new Alaska Airlines 737 Max. Airline executives have expressed their frustration with the company, and even minor incidents involving Boeing jets have attracted extra attention. Pope, 51, was promoted to Boeing chief operating officer only in January.

Persons: David Calhoun, Stan Deal, Stephanie Pope, Lawrence Kellner, Calhoun, ”, Max, “, ” Calhoun, Dennis Muilenburg, Brian West, Steven Mollenkopf, Jason Gursky, Pope, Gursky, Richard Aboulafia, Patrick Shanahan —, Trump, AeroSystems, ” Cai von Rumohr, Cowen, Michael O’Leary, he’s, Michelle Chapman Organizations: Qualcomm, Boeing, Alaska Airlines, Max, Federal Aviation Administration, FAA, Citi, U.S, Defense, Irish, Ryanair, ”, Boeing Co, AP Locations: Seattle, Indonesia, Ethiopia, Arlington , Virginia, Alaska, Calhoun, New York

The American plane maker has been under intense pressure since early January, when a panel blew off a brand-new Alaska Airlines 737 Max midflight. Photos You Should See View All 60 ImagesTHE CRASHESThe bulk of criticism and investigations swirling around Boeing today center on the company's Max jets. Boeing agreed to pay $2.5 billion to settle a Justice Department investigation, admitting that employees misled regulators about the safety of the 737 Max. Last year, Boeing reported a problem with fittings on Max jets where the fuselage meets the vertical section of the tail. Also under investigation is what prompted the emergency landing in Wichita, Kansas, of a Denver-bound United Airlines flight in December.

Persons: Max midflight, That's, Max, shakeups, David Calhoun, Calhoun, —, “ Organizations: Boeing, Alaska Airlines, Delta Air Lines, United Airlines, Airbus, Indonesia’s, Ethiopian Airlines, Department, MORE, FBI, FAA, Spirit, United Airlines Boeing, Max, Passengers, National Transportation Safety, American Airlines, Southwest Airlines, NTSB Locations: Arlington , Virginia, Addis Ababa, Oregon, Wichita , Kansas, Newark , New Jersey, Denver, San Francisco, Los Angeles, —

☆ Boeing's Max problems shift growth plans at major airline customers
▼ + stars: | 2024-03-12 | by ( Leslie Josephs | ) www.cnbc.com time to read: +4 min

An aerial photo shows Boeing 737 Max airplanes parked on the tarmac at the Boeing Factory in Renton, Washington, on March 21, 2019. Boeing 's latest Max crisis is forcing some of its biggest customers to rethink their growth plans this year — and possibly beyond, several airline CEOs said Tuesday. "Boeing needs to become a better company and the deliveries will follow that," Southwest Airlines CEO Bob Jordan said at a JPMorgan industry conference Tuesday. In January, Kirby said the airline would build a fleet plan without the Max 10 because of the delays. On Friday, United told staff that it would have to pause pilot hiring this spring because new Boeing planes are arriving late, CNBC reported.

Persons: Bob Jordan, Scott Kirby, Max, Kirby, United, Dave Calhoun, Stan Deal, Deal Organizations: Boeing, Max, Boeing Factory, Southwest Airlines, Southwest, JPMorgan, Alaska Airlines, Federal Aviation Administration, Department, United Airlines, FAA, CNBC, Transportation Safety Locations: Renton , Washington, Washington

With Boeing facing multiple government investigations, the company needs to make “a serious transformation” around its safety and manufacturing quality, Transportation Secretary Pete Buttigieg said Monday. That followed the company's admission that it couldn't find records that the National Transportation Safety Board sought for work done on the panel at a Boeing factory. “We will continue to cooperate fully and transparently with all government investigations and audits, as we take comprehensive action to improve safety and quality at Boeing," the company said. Alaska Airlines said it is cooperating with the Justice Department investigation. She told a Senate committee that Boeing had repeatedly rebuffed her agency's attempts to get information ever since the blowout.

Persons: Pete Buttigieg, Buttigieg, Max jetliner, ” Buttigieg, ”, Jennifer Homendy Organizations: Boeing, Transportation, Street Journal, Department of Justice, Alaska Airlines, National Transportation Safety, Federal Aviation Administration, DOJ, NTSB, Justice Department, Alaska, FAA, Max Locations: midlfight, Buttigieg's, Seattle, Arlington , Virginia

☆ On the 5th anniversary of a fatal 737 Max crash, victims’ families want more focus on Boeing’s potential safety problems
▼ + stars: | 2024-03-10 | by ( Chris Isidore | ) edition.cnn.com time to read: +12 min

Even though the same jet model had crashed soon after taking off from Indonesia less than six months earlier, aviation authorities around the world had allowed the 737 Max to keep flying with passengers. A third incidentThis year, on January 5, a part of a 737 Max 9 flown by Alaska Airlines blew out, leaving a gaping hole in the side of the plane. Boeing’s production problems went beyond the design flaw that led to the crashes. “Within days of the first crash, Boeing knew there was a design defect,” Robert Clifford, one of the plaintiff attorneys in the case, told CNN. Last month, Boeing removed executive Ed Clark, the head of its 737 Max passenger jet program.

Persons: New York CNN — Michael Stumo’s, Samya Rose Stumo, ”, “, ” Michael Stumo, Michael Stumo Samya Rose, Max, Michael Stumo, We’d, ” Stumo, ” Zipporah, Joseph, ‘ something’s, ’ ” Joseph Kuria, Olivia Kuria, “ It’s, haven’t, Kruia, ” Kuria, ” Robert Clifford, people’s, Olivier Douliery, Dave Calhoun, Ed Clark, Stephen Brashear, Eduardo Soteras, David Calhoun, Mike Delaney, ” Joseph, Zipporah, Dennis Muilenburg, Calhoun, Stumo, “ I’m, Kuria, there’s Organizations: New, New York CNN, Boeing, Max, CNN, Copenhagen School of Public Health, Ethiopian, Alaska Airlines, National Transportation Safety Board, Alaska, Federal Aviation Administration, Transportation Safety Board, NTSB, Alaska Airlines Flight, Alaska Air, ”, US Justice Department, FAA, Justice Department, Getty, Ethiopian Airlines, Lion Air, Airline Pilots, Association of Ethiopia Locations: New York, Addis Ababa, Ethiopia, Kenya, Indonesia, Alaska, Portland , Oregon, Arlington , Virginia, AFP, ”, Renton , Washington, Washington

☆ Boeing is shifting its employee bonus formula from finances to safety and quality
▼ + stars: | 2024-03-08 | by ( Chris Isidore | ) edition.cnn.com time to read: +2 min

New York CNN —After being rocked by years of quality and safety issues, Boeing is changing the bonus formula it uses to pay more than 100,000 nonunion employees. Instead of basing most of white-collar employees’ bonuses on financial results, bonuses will now be based mostly on safety and quality metrics. But those safety and quality problems have resulted in five years of operating losses topping $31.5 billion. It previously had 75% of that score based on financial results, with the other 25% based on operational metrics that included data beyond safety and quality readings. For employees in the corporate offices, their bonus score will be based on an average of the three units scores.

Persons: ”, Stephanie Pope, Max, Dave Calhoun Organizations: New, New York CNN, Boeing, Alaska Airlines, National Transportation Locations: New York

☆ NTSB rips Boeing for failing to produce key door plug documents
▼ + stars: | 2024-03-06 | by ( Gregory Wallace | Pete Muntean | ) edition.cnn.com time to read: +2 min

CNN —Boeing has not turned over important records to investigators probing the door plug blowout on a 737 Max earlier this year, investigators say. She testified that because of Boeing’s actions, NTSB investigators do not know who on the Boeing assembly line removed and reinstalled the door plug that – months later while the plane was in service carrying passengers – blew out. Homendy said that Boeing has not fully cooperated with the NTSB Board's investigation into Alaska Airlines Flight 1282 door plug incident. The plane flew about 150 commercial flights before the door plug flew off the plane mid-flight on January 5, just over two months ago. NTSB investigators have made multiple visits to Boeing facilities and created a special team to handle requesting and processing documents from Boeing and its key contractor, Spirit AeroSystems.

Persons: Jennifer Homendy, Homendy, Kevin Dietsch, ” Homendy Organizations: CNN, Boeing, Transportation, Commerce, U.S . National Transportation Safety Board, Senate Commerce, Science, Russell Senate, NTSB, Alaska Airlines, Getty, Federal Aviation Administration Locations: Renton, Washington ,

☆ Boeing fined $51 million for violating Arms Export Control Act
▼ + stars: | 2024-03-01 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

New York CNN —Boeing has agreed to pay $51 million for violating exports controls of military technology, including employees in China downloading sensitive data from numerous defense aircraft and missiles. The State Department found a total of 199 violations of the Arms Export Control Act by Boeing. It faces multiple investigations for a door plug blowing out on a 737 Max flight in January, leaving a gaping hole in the side of the Alaska Airlines flight. The NTSB has yet to determine blame or fault for the door plug incident on the Alaska Air flight. But Boeing CEO Dave Calhoun told investors in January, “We caused the problem, and we understand that.

Persons: ” “, ”, Boeing’s, Max, Dave Calhoun, “ Organizations: New, New York CNN, Boeing, State Department, Alaska Airlines, National Safety Transportation Board, Federal Aviation Administration, Justice Department, FAA, NTSB, Alaska Air Locations: New York, China, Australia, Canada, France, Germany, Hong Kong, India, Italy, Japan, Kenya, Morocco, Russia, Singapore, South Korea, Spain, Thailand, Taiwan, Ukraine, United Kingdom

☆ The FAA has identified more safety issues on Boeing’s 737 Max and 787 Dreamliner
▼ + stars: | 2024-03-01 | by ( Gregory Wallace | Chris Isidore | ) edition.cnn.com time to read: +6 min

Washington DC CNN —The Federal Aviation Administration has flagged more safety issues for two troubled families of Boeing planes, the latest in a series of issues at the embattled aircraft maker. The issues involve engine anti-ice systems on the 737 Max and larger 787 Dreamliner. But it’s not a solution.”The FAA said the newly disclosed Max issue could cause the jet’s engines to stop working. The 2021 discovery lines up with the company’s order that year to ground some Max planes because of a different electrical problem. A different issue with the DreamlinerLess than a week after publicly publishing the 737 Max notice, the FAA reported a separate anti-icing issue with the 787 Dreamliner.

Persons: Max, “, Mother Nature’s, ”, Dennis Tajer, aren’t, it’s, Jessica Kowal, Boeing Max —, Jennifer Riordan, Kowal, Dave Calhoun Organizations: Washington DC CNN, Federal Aviation Administration, Boeing, FAA, Seattle Times, Alaska Air, American Airlines, Allied Pilots Association, Southwest Airlines, National Transportation Safety, Justice Department, NTSB

☆ FAA gives Boeing 90 days to come up with quality control plan after 737 Max accident
▼ + stars: | 2024-02-28 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

An aerial photo shows Boeing 737 Max airplanes parked on the tarmac at the Boeing Factory in Renton, Washington, on March 21, 2019. The door plug was removed and reinstalled at Boeing's Renton, Washington 737 Max factory. The FAA is in the middle of an audit of Boeing's 737 production lines. The agency last month said it would halt Boeing's planned ramp-up of 737 Max planes until the regulator is satisfied with quality control on the company's production lines. The report was required by Congress following two crashes in 2018 and 2019 of Boeing 737 Max planes, which killed everyone on board the flights.

Persons: Bolts, Mike Whitaker, Dave Calhoun, Max Organizations: Boeing, Max, Boeing Factory, Federal Aviation Administration, Alaska Airlines, FAA Locations: Renton , Washington, Renton, Washington

☆ With no Boeing passenger jets at the Singapore Airshow, Airbus and China take centerstage
▼ + stars: | 2024-02-19 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +2 min

An aerial photo shows Boeing 737 MAX airplanes parked on the tarmac at the Boeing Factory in Renton, Washington, U.S. March 21, 2019. SINGAPORE — Boeing will not be bringing any commercial planes to the Singapore Airshow, shifting the spotlight for passenger jets to rival Airbus as well as China's homegrown offering. While there will be aerial displays of commercial liners by Airbus and China's domestic jetliner Comac C919, Boeing will not have any commercial aircraft at the air show. While no commercial jets will be featured, Boeing will still be holding a cabin display of its wide-body 777X passenger plane, which the company claims is the world's largest twin-engine jet. This is the first major international aerospace event since the blowout last month, which pushed Boeing into another safety crisis after the U.S. safety regulators ordered the temporary grounding of more than 170 Boeing 737 Max 9 planes.

Persons: Max, Lockheed Martin, Thales, scuffling Organizations: Boeing, Boeing Factory, SINGAPORE — Boeing, Singapore, Airbus, U.S . Air Force, Lockheed, Dassault, SAAB, Leonardo, Max, Alaska Airlines Locations: Renton , Washington , U.S, SINGAPORE, Portland , Oregon

☆ Boeing orders, deliveries dry up in January as plane-maker grapples with latest Max crisis
▼ + stars: | 2024-02-13 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

An aerial photo shows Boeing 737 MAX airplanes parked on the tarmac at the Boeing Factory in Renton, Washington, U.S. March 21, 2019. The company handed over 27 planes last month, its lowest tally since September, compared with 67 deliveries in December. It sold three Boeing 737 Max planes, but also logged three cancellations. The three gross orders come after a big December when Boeing sold 371 planes. Boeing's January deliveries included three Max planes to Chinese customers, the first in about four years.

Persons: Max, Dave Calhoun, Calhoun, Mike Whitaker, Whitaker Organizations: Boeing, Boeing Factory, Airbus, Alaska Airlines, National Transportation Safety, Federal Aviation Administration, FAA, CNBC Locations: Renton , Washington , U.S, Portland , Oregon, Renton , Washington, Renton

☆ Alaska Airlines 737 May Have Left Boeing Factory Missing Bolts, N.T.S.B. Says
▼ + stars: | 2024-02-06 | by ( Sydney Ember | Mark Walker | ) www.nytimes.com time to read: +1 min

The panel, known as a door plug, was opened to repair damaged rivets on the plane’s body, known as the fuselage. The report did not say who removed the bolts keeping the door plug in place. But the safety board said it appeared that not all the bolts were put back once the door was reinstalled on the plane after the rivets had been repaired. provided a photograph of the door plug after it was reinstalled but before the plane’s interior was restored. In the image, three of the four bolts appear to be missing.

Organizations: Alaska Airlines, National Transportation Safety Board, Boeing Locations: Alaska, Boeing’s, Renton, Wash

☆ 2 ex-Boeing staffers said they wouldn't fly on the 737 Max, citing pressure to 'rush the planes out the door'
▼ + stars: | 2024-01-31 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Two former Boeing employees told the LA Times they wouldn't recommend flying on a 737 Max. "I saw the pressure employees were under to rush the planes out the door," a former senior manager said. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementTwo former Boeing staffers told the Los Angeles Times they wouldn't fly on a 737 Max jet due to concerns over its safety. "I would absolutely not fly a Max airplane," Ed Pierson, a former senior manager at Boeing, told the Times.

Persons: —, Ed Pierson, I've, Max, Joe Jacobsen, Jacobsen, Pierson, it's Organizations: Boeing, LA Times, Service, Los Angeles Times, Times, Alaska Airlines, Street Journal, New York Times, Airbus, Paris Air, Federal Aviation Administration, Business

Shares of the company rose 7% to hit a 1-1/2 year high after Boeing also posted second-quarter results above Wall Street expectations. The planemaker is now transitioning its 737 production line - including the MAX models that make up the vast majority of 737 production - to building 38 jets per month, up from 31, the company said. Calhoun later added the company is already in "prep mode" to raise monthly 737 production to 42, but wouldn't specify whether Boeing would do so in 2023, as Boeing Commercial Airplanes head Stan Deal said told Bloomberg TV in June. 'ENCOURAGING' RESULTS AMID CHALLENGESA photo of Boeing 737 MAX airplanes parked on the tarmac at the Boeing Factory in Renton, Washington, U.S. March 21, 2019. Boeing expects to deliver most of the 228 MAXs in its inventory by the end of 2024, making it critical that Boeing step up production.

Persons: there'll, Dave Calhoun, Calhoun, Stan Deal, Brian West, Lindsey Wasson, Peter McNally, Refinitiv, Valerie Insinna, Abhijith Ganapavaram, Anil D'Silva, Nick Zieminski Organizations: Boeing, Boeing Commercial Airplanes, Bloomberg TV, Boeing Factory, REUTERS, Commercial Aerospace, Thomson Locations: Renton , Washington , U.S, West

☆ US factory orders fall in January on civilian aircraft demand
▼ + stars: | 2023-03-06 | by ( ) www.reuters.com time to read: +2 min

The Commerce Department said on Monday that factory orders dropped 1.6% after increasing 1.7% in December. Orders increased 4.3% on a year-on-year basis in January. The drop in factory orders in January mostly reflected a 13.3% decline in transportation equipment, which followed a 15.8% jump in December. Transportation equipment orders were weighed down by a 54.5% tumble in orders for civilian aircraft. Motor vehicle orders increased 1.3%.

☆ US factory orders fall as civilian aircraft demand dives
▼ + stars: | 2023-03-06 | by ( ) www.reuters.com time to read: +3 min

The report from the Commerce Department on Monday also showed shipments of manufactured goods rebounding after two-straight monthly declines, while inventories were unchanged. The drop in factory orders in January mostly reflected a 13.3% decline in transportation equipment, which followed a 15.8% jump in December. Transportation equipment orders were weighed down by a 54.5% tumble in orders for civilian aircraft. Motor vehicle orders increased 1.3%. Shipments of manufactured goods increased 0.7%, the biggest gain since August, after falling 0.6% in December.

[1/2] An aerial photo shows Boeing 737 MAX airplanes parked at the Boeing Factory in Renton, Washington, U.S. March 21, 2019. REUTERS/Lindsey WassonCompanies Boeing Co FollowFORT WORTH, Texas/WASHINGTON Jan 26 (Reuters) - Boeing Co (BA.N) pleaded not guilty on Thursday to a 737 MAX fraud conspiracy charge felony charge after families objected to a 2021 Justice Department agreement to resolve the investigation into the plane's flawed design. U.S. District Judge Reed O'Connor last week ordered Boeing to appear to be arraigned after he ruled that people killed in the two Boeing 737 MAX crashes are legally considered "crime victims." The Justice Department in 2021 agreed to seek dismissal of the charge after the three-year agreement if Boeing complies with all terms. Lawyers for the victims said Boeing admitted under the agreement "that the 737 MAX had an unsafe condition, and that it will not attempt to blame anyone else" for the crash.

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