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Boeing has recorded another $250 million loss on its Starliner program. Boeing has lost $1.85 billion on the Starliner program to date. AdvertisementAerospace manufacturer Boeing said on Wednesday that it was incurring an additional $250 million charge against earnings on its beleaguered Starliner program. This is in addition to the $125 million charge against earnings Boeing recorded in the second quarter of this year. Boeing has lost $1.85 billion on the Starliner program to date.
Persons: Kelly Ortberg, , Starliner, Butch Wilmore, Suni Williams, Wilmore, Williams, Ortberg, Boeing's Organizations: Boeing, New, Service, Aerospace, Space, NASA, SpaceX, SEC, Ortberg, Business Insider, Max, Airlines, Wednesday Locations: New Mexico, Oregon, California
Boeing's 777X, its largest passenger plane, is delayed yet again. AdvertisementBoeing's future is dependent on the upcoming 777X, the world's largest passenger plane in production, which has been delayed once again. Boeing's last completely new widebody plane was the 787 way back in 2003. Qatar and Etihad have ordered 94 and 25 777-9s, respectively, for a collective 324 777X planes across the three airlines. The Boeing 777X's 10-abreast cabin mockup on display at Aircraft Interiors Expo in 2022.
Persons: , planemaker, Kelly Ortberg, it's, Thiago B Trevisan, Julien de Rosa, ROSLAN RAHMAN, Max —, Max, Georg Wendt, Tim Clark, isn't, Clark, Richard Aboulafia, Aboulafia Organizations: Service, Boeing, British Airways, Emirates, Singapore Airlines, Airbus, Korean Air, Delta Air Lines, Lufthansa, Air New Zealand, Getty, Aviation, Etihad Airways, Etihad, Aircraft, Airlines Locations: Qatar, Emirates, Korean, AFP
Boeing Co. workers and supporters hold signs outside the Aerospace Machinists Union District 751 Hall ahead of a vote on the union contract in Renton, Washington, US, on Thursday, Sept. 12, 2024. More than 30,000 Boeing workers were set to strike Friday, halting production of most of the company's aircraft after staff overwhelmingly rejected a new labor contract. Workers in the Seattle area and in Oregon voted 94.6% against a tentative agreement that Boeing and the International Association of Machinists and Aerospace Workers unveiled Sunday. They voted 96% to strike, far more than the two-thirds vote required for a work stoppage. He characterized it as an "unfair labor practice strike," alleging that factory workers had experienced "discriminatory conduct, coercive questioning, unlawful surveillance and we had unlawful promise of benefits."
Persons: Jon Holden, Boeing didn't Organizations: Boeing Co, Aerospace Machinists, Boeing, Workers, International Association of Machinists, Aerospace Workers Locations: Renton , Washington, US, Seattle, Oregon
Read previewThe usual orders battle between Airbus and Boeing played second fiddle to supply-chain issues at last week's Farnborough Airshow. AdvertisementLast month, Airbus reduced its delivery targets, citing supply chain issues, which saw its stock drop as much as 11%. The day before the show, Guillaume Faury, the Airbus CEO, told the media the planemaker was having "important discussions" with some key suppliers as it was facing "a bit of an unexpected challenge." Frustrations with the supply chain were evident among airline bosses speaking at a summit on the first day of the airshow. AdvertisementWith gray skies for much of the week, the weather seemed to reflect the downturn for Airbus and Boeing.
Persons: , Joshua Ng, Guillaume Faury, Luis Gallego, Ng, Dave Calhoun, Stephanie Pope, Kelly Ortberg, Rockwell Collins, Sir Keir Starmer Organizations: Service, Airbus, Boeing, Farnborough, November's Dubai, Alton Aviation Consultancy, Business, International Airlines Group, British Airways, Aer Lingus, Alaska Airlines, Current, Defense, NATO Locations: Paris, Farnborough, Ukraine, Gaza
The FAA slowed deliveries after the Alaska Airlines door plug blowout in January and capped Boeing's 737 production. AdvertisementA lot is riding on the new 777X, including proving its modified design was the right strategy over building a new plane from scratch. Boeing's last completely new widebody plane was the 787 way back in 2003. The Boeing 777X's 10-abreast cabin mockup on display at Aircraft Interiors Expo in 2022. Georg Wendt/picture alliance via Getty ImagesDespite the substantial investment, Emirates president Tim Clark has voiced his concern over Boeing's 777X delays.
Persons: , Richard Aboulafia, there's, it's, Thiago B Trevisan, Julien de Rosa, ROSLAN RAHMAN, Max —, Max, Georg Wendt, Tim Clark, Clark, Aboulafia Organizations: Service, British Airways, Emirates, Singapore Airlines, Business, Boeing, FAA, Alaska Airlines, Airbus, Korean Air, Delta Air Lines, Lufthansa, Air New Zealand, Getty, Aviation, Etihad Airways, Aircraft, Reuters, Air Locations: Korean, AFP, Qatar
Read previewBoeing could face criminal charges after the Justice Department determined the planemaker violated a deferred prosecution agreement (DPA). The DPA, reached in 2021, meant Boeing didn't face charges related to the deaths of 346 people in two 737 Max 8 crashes in 2018 and 2019. AdvertisementIt added: "For failing to fulfill completely the terms of and obligations under the DPA, Boeing is subject to prosecution by the United States." AdvertisementThe Justice Department is continuing to meet with the families of victims of the 2018 and 2019 crashes, as it determines whether to bring charges against Boeing. The Justice Department told the court it will decide whether to prosecute Boeing by July 7.
Persons: , Max, Robert Clifford Organizations: Service, Justice Department, DPA, Boeing, Business, Alaska Airlines, DoJ, BI, Department, Ethiopian Locations: United States, Alaska
Boeing 787-9 Dreamliner, from American Airlines company, taking off from Barcelona airport, in Barcelona on 24th February 2023. "We're making these adjustments now to ensure we're able to re-accommodate customers on affected flights," American said in a statement. Flights from New York to Barcelona will be suspended Sept. 3. Flights from Dallas/Fort Worth International to Dublin and to Rome, which were both scheduled as year-round flights, will now be suspended on Oct. 26. Flights from Chicago O'Hare to Paris will end Sept. 3 and resume next year.
Persons: John F, Boeing didn't Organizations: Boeing, American Airlines, Kennedy International, Fort Worth International, Dublin, Chicago O'Hare Locations: Barcelona, Europe, New, Athens, New York, Dallas, Rome, Chicago, Paris, Kona, Hawaii, Philadelphia, Miami, Montevideo, Uruguay, Sao Paulo, Brazil
The fuselage plug area of Alaska Airlines Flight 1282 Boeing 737-9 MAX, which was forced to make an emergency landing with a gap in the fuselage, is seen during its investigation by the National Transportation Safety Board (NTSB) in Portland, Oregon, U.S. January 7, 2024. Boeing paid Alaska Airlines $160 million in compensation in the first quarter for the grounding of the 737 Max 9, according to the airline. Alaska said in a filing Thursday that its first-quarter "results were significantly impacted by Flight 1282 in January and the Boeing 737-9 MAX grounding which extended into February." "Although we did experience some book away following the accident and 737-9 MAX grounding, February and March both finished above our original pre-grounding expectations due to these core improvements," it said. Alaska shares were up more than 5% in morning trading, while Boeing was up 1%, compared with a 0.6% gain in the broader market .
Persons: Boeing's, Boeing didn't Organizations: Alaska Airlines Flight, Boeing, National Transportation Safety Board, Alaska Airlines, Federal Aviation Administration, Max, United Airlines, CNBC Locations: Alaska, Portland , Oregon, U.S
United Airlines is asking pilots to take unpaid time off next month, citing late-arriving aircraft from Boeing , according to a note sent to pilots. It's another example of how Boeing's customers say the manufacturer's production problems and safety crisis are impacting their growth plans. The offer comes after United and other airlines in recent years have clamored for more pilots when the Covid-19 pandemic travel slump ended and demand surged. "Due to recent changes to our Boeing deliveries, the remaining 2024 forecast block hours for United have been significantly reduced," the United chapter of the Air Line Pilots Association, the pilots' union, said in a note to members Friday. United was contracted to receive 43 Boeing 737 Max 8 planes and 34 Max 9 models this year, but now expects to receive 37 and 19, respectively, according to a company filing in February.
Persons: Max, Scott Kirby, Boeing didn't, Dave Calhoun Organizations: Boeing, Air Line Pilots Association, United, CNBC, Max, Federal Aviation Administration, Alaska Airlines
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
The NTSB is looking for security camera footage of work done on the Alaska Airlines blowout plane. The planemaker previously said it also couldn't find records of work done on the door plug. In its preliminary report, the NTSB said the jet left Boeing's factory without key bolts that keep the door plug secured. A Boeing spokesperson told Business Insider that the planemaker's standard practice is to maintain security footage on a rolling 30-day period. The incident aircraft was in Boeing's factory in September 2023 and delivered to Alaska Airlines a month later.
Persons: , Jennifer Homendy, Maria Cantwell, Ted Cruz, Max, Homendy Organizations: NTSB, Alaska Airlines, Boeing, Service, National Transportation Safety, Commerce, Science, Transportation Locations: Boeing's
Southwest Airlines said Tuesday that it will have to trim its capacity plans and reevaluate its financial forecasts for the year, citing delivery delays from Boeing , its sole supplier of airplanes. The Dallas-based airline said Boeing informed Southwest's leaders that it should expect 46 Boeing 737 Max 8 planes this year, down from 58. Southwest had expected Boeing to deliver 79 Max planes, including some of the smallest model, the Max 7, which hasn't yet won certification from the Federal Aviation Administration. Because of the delays, Southwest said in a filing that it is "reevaluating all prior full year 2024 guidance, including the expectation for capital spending." Last week, United told staff that it would have to pause pilot hiring this spring because of late-arriving aircraft from Boeing, CNBC reported.
Persons: Max, , United, Boeing didn't Organizations: Southwest Airlines, Boeing, Southwest's, Max, Southwest, Federal Aviation Administration, JPMorgan, Alaska Airlines, CNBC Locations: Dallas
Ten Oaks Management accused Boeing of "conning" it into buying a failing supplier, in a counterclaim. But when it assumed control of Astech, Boeing alleges it was "held hostage" by the family office and subject to a "bait and switch." AdvertisementHowever, Ten Oaks hit back with a counterclaim last Friday, saying it was duped into buying Astech by Boeing. The complaint says Boeing's contract with Astech was "lopsided" and leading it into bankruptcy because the pricing didn't even cover manufacturing costs. Another Boeing supplier, Spirit AeroSystems, is also facing scrutiny because it builds the Max 9 fuselage.
Persons: , Astech, Max, Mike Whitaker Organizations: Oaks Management, Boeing, Service, Business, Ten Oaks Management, KC, Court, Ten Oaks, Ten, Boeing KC, US Air Force Ten Oaks, Alaska Airlines, National Transportation Safety, Federal Aviation Administration Locations: Carolina, Delaware, Astech
Boeing workers could strike if they don't get a 40% pay rise over the next three to four years. But we're willing to do it," union leader Jon Holden told Bloomberg. Boeing is already reeling from a structural blowout grounding an Alaska Airlines 737 Max last month. AdvertisementUnion leaders say Boeing workers are willing to strike if they're not offered huge pay rises. AdvertisementThe move comes as Boeing reels from a blowout on an Alaska Airlines 737 Max plane last month.
Persons: Jon Holden, Max, , they're, Dave Calhoun, Scott Kirby, United, Holden Organizations: Bloomberg, Boeing, Alaska Airlines, Service, International Association of Machinists, Aerospace Workers, Max, CNBC, IAM, Business Locations: Alaska, Seattle, Detroit
Alaska Airlines N704AL is seen grounded in a hangar at Portland International Airport in Portland, Oregon, on Jan. 9, 2024. The Federal Aviation Administration on Wednesday halted Boeing 's planned expansion of its 737 Max aircraft production, but it cleared a path for the manufacturer's Max 9 to return to service nearly three weeks after a door plug blew out during an Alaska Airlines flight. "Let me be clear: This won't be back to business as usual for Boeing," said FAA Administrator Mike Whitaker in a statement Wednesday. The grounding forced United Airlines and Alaska Airlines, the two U.S. airlines with the planes, to cancel hundreds of flights. The FAA is investigating Boeing's production lines after the Alaska flight.
Persons: Max, Mike Whitaker, Boeing didn't, Whitaker Organizations: Alaska Airlines, Portland International, Federal Aviation Administration, Wednesday, Boeing, Max, FAA, Airlines, United Airlines, United, CNBC, CNBC PRO Locations: Portland, Portland , Oregon, Alaska, Boeing's
United Airlines is weighing fleet plans without the Boeing 737 Max 10 after a series of delays and most recently, the grounding of a smaller variant of the plane, the carrier's CEO said Tuesday. The Max 10 is the largest model of the plane and hasn't yet been certified by the Federal Aviation Administration. United has 79 of the 737 Max 9 aircraft in its fleet, more than any other carrier. "We're going to at least build a plan that doesn't have the Max 10 in it." Last week, Delta Air Lines CEO Ed Bastian told CNBC last week that he is confident moving forward with his airline's order of Boeing Max 10s.
Persons: Scott Kirby, Kirby, CNBC's, Max, Ed Bastian, Boeing Max, Boeing didn't Organizations: Airlines, Boeing, Max, Federal Aviation Administration, United, Alaska Airlines, FAA, Delta Air, CNBC
Read previewAn Alaska Airlines Boeing 737 Max 9 had 177 people on board on January 5 when part of the fuselage was blown off. After the Federal Aviation Administration grounded all 737 Max 9 planes with door plugs, United Airlines and Alaska Airlines discovered loose hardware on several. Why the 737 Max was grounded in 2019Competition between Airbus and Boeing played a role in the twin 737 Max crashes that killed almost 350 people in 2018 and 2019. The Alaska Airlines blowout will likely renew scrutiny of Boeing's deal with the department, which demanded new compliance procedures. A Boeing 737 Max 10 at the Paris Air Show.
Persons: , Max, It's, Michael O'Leary, Tim Clark, Dennis, Win McNamee, Bob Clifford, people's, could've, Clifford, David P, Burns, AeroSystems, McDonnell Douglas, MBAs, Harry Stonecipher, Stonecipher, PIERRE VERDY, Dave Calhoun, who's Organizations: Service, Alaska Airlines Boeing, Max, Portland International, Business, Federal Aviation Administration, United Airlines, Alaska Airlines, FAA, Boeing, National Transportation Safety, NTSB, Reuters, Airbus, Ryanair, Financial, Emirates, Bloomberg, New York Times, Lion Air, Ethiopian Airlines, Ethiopian, Pilots, MCAS, The Justice Department, McDonnell, Seattle Times, Paris Air, Getty, CNBC Locations: Kansas, Alaska
A Boeing logo is seen at the 54th International Paris Airshow at Le Bourget Airport near Paris, France, June 18, 2023. REUTERS/Benoit Tessier Acquire Licensing RightsCompanies Boeing Co FollowLONDON, Nov 10 (Reuters) - Internal data from Boeing (BA.N), one of the world's largest defence and space contractors, was published online on Friday by Lockbit, a cybercrime gang which extorts its victims by stealing and releasing data unless a ransom is paid. According to a post on Lockbit's website, the data from Boeing was published in the early hours of Friday morning. “We are aware that, in connection with this incident, a criminal ransomware actor has released information it alleges to have taken from our systems," Boeing said. The company said it "remains confident" the event does not pose a threat to aircraft or flight safety, but declined to comment on whether defense or other sensitive data had been obtained by Lockbit.
Persons: Benoit Tessier, Lockbit, Lockbit ransomware, James Pearson, Tim Hepher, Valerie Insinna, Kirsten Donovan, David Evans, Emelia Organizations: Boeing, Paris, REUTERS, Rights, Reuters, Lockbit, Cybersecurity, Infrastructure Security Agency, Industrial, Commercial Bank of China's, U.S . Treasury, Thomson Locations: Le Bourget, Paris, France, United States, India, Brazil, U.S, Washington
A Boeing logo is seen at the 54th International Paris Airshow at Le Bourget Airport near Paris, France, June 18, 2023. The Lockbit threat was no longer on the gang's website as of Wednesday, and it didn't immediately respond to a request for comment. Boeing declined to comment on whether Lockbit was behind the cyber incident it disclosed. It's unclear what data Lockbit may have stolen from the company. "Paying the ransom would simply elicit a pinky promise from LockBit that they will destroy whatever data they obtained," Callow said.
Persons: Benoit Tessier, didn't, Lockbit, Brett Callow, Emsisoft, Callow, Valerie Insinna, Chris Reese, Lisa Shumaker, Jamie Freed Organizations: Boeing, Paris, REUTERS, Rights, Cybersecurity, Infrastructure Security Agency, Global Services, Services, Thomson Locations: Le Bourget, Paris, France
The hacking group posted a countdown clock on its data leak website with a message saying, "Sensitive data was exfiltrated and ready to be published if Boeing do not contact within the deadline!" "For now we will not send lists or samples to protect the company BUT we will not keep it like that until the deadline," the hacking group said. The hacking group typically deploys ransomware on a victim organization's system to lock it up and also steals sensitive data for extortion. Lockbit was the most active global ransomware group last year based on the number of victims it claimed on its data leak blog, according to the U.S. Cybersecurity and Infrastructure Security Agency (CISA). The hacking gang also did not immediately respond to a request for comment sent on an address it mentioned on its data leak site.
Persons: Lindsey Wasson, Lockbit, CISA, Zeba Siddiqui, Leslie Adler Organizations: Boeing KC, Pegasus, U.S . Air Force, REUTERS, Rights, Boeing, Boeing Co, Cybersecurity, Infrastructure Security Agency, Thomson Locations: Everett , Washington , U.S, , San Francisco
Click here to download Jim Cramer's Guide to Investing at no cost to help you build long-term wealth and invest smarter. CNBC's Jim Cramer said investors should not be dissuaded by naysayers if they have a thesis they feel strongly about. Cramer said he made the mistake of giving up on his bull thesis when he sold Boeing for the CNBC Investing Club's Charitable Trust. "I didn't have the patience or the pain tolerance to stick with my original thesis, which was dead right all along," he said. "If you have a thesis that looks like it's going to play out, don't let its unrelated negatives scare you away," Cramer said.
Persons: Jim Cramer's, Jim Cramer, Cramer, he'd, wouldn't Organizations: Boeing, CNBC
A person with an umbrella walks by a Boeing 737 Max fuselage parked outside the company's production facility in Renton, Washington, January 10, 2020. Boeing said a new manufacturing flaw on its best-selling 737 Max will delay deliveries of its best-selling aircraft, the latest setback as the company tries to hand over more planes. The company said it found fastener holes on the aft pressure bulkhead on some 737 planes were improperly drilled. "This issue will impact near-term 737 deliveries as we conduct inspections to determine the number of airplanes affected, and complete required rework on those airplanes," Boeing said. Boeing didn't say whether the new issue would change its forecast to deliver between 400 and 450 Max jets this year.
Persons: Max, Aerosystems Organizations: Boeing, Max, Airbus, The Air, Federal Aviation Administration Locations: Renton , Washington
A United Airlines flight was forced to make an emergency landing in Newark, New Jersey on Thursday. Flight-tracking site FlightAware shows that the plane set off at 11:01 p.m. local time on Wednesday but was diverted. United Airline's website says the plane ultimately left Newark early Thursday afternoon. United Airlines websiteThe Federal Aviation Administration is investigating what happened with the flight, CNN reported. United Airlines told Reuters that it had started the inspections and was working with the FAA to return the planes to service.
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