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The airports losing Southwest service are:AdvertisementSyracuse Hancock International Airport in New York. Bellingham International Airport in Washington. Southwest also said it would "significantly restructure other markets," including putting capacity reductions at Hartsfield-Jackson Atlanta International Airport and Chicago O'Hare International Airport. Related stories"To improve our financial performance, we have intensified our network-optimization efforts to address underperforming markets," Southwest CEO Bob Jordan said in the earnings report, noting the impact could go into 2025. The backlash has prompted Boeing CEO Dave Calhoun to announce his resignation from the company, effective at the end of the year.
Persons: , George Bush, Boeing's Max, Max, Bob Jordan, Jordan, Dave Calhoun, Boeing's, Larry Kellner, Stan Deal, Stephanie Pope, Sam Salehpour Organizations: Service, Boeing, Max, Southwest Airlines, Business, Southwest, Syracuse Hancock International, Bellingham International Airport, Cozumel International, George Bush Intercontinental Airport, Alaska Airlines, Hartsfield, Jackson Atlanta International Airport, Chicago O'Hare International, Ryanair, United Airlines, Boeing Commercial Locations: New York, Bellingham, Washington, Cozumel, Mexico, Houston, Southwest, Alaska
The air travel is part of what are known as perquisites, or perks granted the executives, which also include ground transportation, lodging and meals during personal travel. The upward adjustment means that Boeing spent at least $734,000 in 2022 and $306,000 in 2021 on these executives’ personal air travel, according to figures provided. And 2023 personal air travel costs for the four came to $872,000. That review resulted in a newly reported cost of personal travel that was $546,000 more in 2022 and 2021 than previously disclosed. Boeing did not have any comment on the costs of the executives’ personal air travel beyond the information in the filing.
Persons: Dave Calhoun, Calhoun, Brian West, Stan Deal, Theodore Colbert, Max, ousters Organizations: New, New York CNN, Boeing, Colbert, Securities and Exchange Commission, Max, Alaska Airlines, Deal, Airplanes Locations: New York, Alexandria , Virginia
Calhoun's total compensation last year rose 45% to $32.8 million, up from $22.6 million in the prior year. The manufacturer is grappling with the fallout of a door plug panel that blew out midair from a 737 Max operated by Alaska Airlines in January. Boeing disclosed the take-home pay, which did not include a 2023 bonus Calhoun declined that was valued at $2.8 million, and executive compensation in a filing on Friday. Calhoun took the helm at Boeing in January 2020 after his predecessor was ousted for his handling of the aftermath of two fatal crashes of the 737 Max. The Justice Department is investigating the Alaska Airlines accident and the Federal Aviation Administration has capped Boeing's 737 Max production until it signs off on Boeing's quality control.
Persons: Dave Calhoun, Dave Calhoun's, Max, Stan Deal, Calhoun, Steve Mollenkopf, aren't Organizations: Capitol, Washington , D.C, Boeing, Alaska Airlines, Justice, Federal Aviation Administration Locations: Washington ,
It makes him the second successive chief to go after a 737 Max crisis. AdvertisementOn Monday morning, Dave Calhoun became the second successive Boeing CEO to lose his job in the wake of a 737 Max crisis. Muilenburg was terminated as the planemaker fought for its reputation after 346 people died in two 737 Max 8 crashes in 2018 and 2019. After the longest-ever grounding for a US airliner, the 737 Max was ungrounded 10 months into Calhoun's reign. Win McNamee/Getty ImagesMost people's concerns about the 737 Max looked to have been assuaged, until the Alaska Airlines blowout on January 5.
Persons: Dave Calhoun, , Stan Deal, Calhoun, Boeing's, Dennis Muilenburg, Muilenburg, Max, Dennis, Win McNamee, Bob Clifford, Timothy Hubbard, Hubbard, Clifford, DAVID RYDER, Critics, Justin Green, Green Organizations: Boeing, Service, Airbus, Federal Aviation Administration, MCAS, Alaska Airlines, National Transportation Safety, Justice, FBI, Ethiopian, Alaska Air, United Airlines, Boeing's, Street Journal, The, Current, Business, University of Notre Dame, CNBC Locations: MCAS, Southwest , Alaska, Calhoun, Virginia, Seattle, Boeing's, Renton , Washington
Boeing needs to be led by engineers if it wants to pull itself out of its current crisis, Tim Clark, the president of Emirates Airline, said in comments Wednesday. "To fix Boeing's issues the company needs a strong engineering lead as its head coupled to a governance model which prioritizes safety and quality," said Clark, who leads Dubai's flag carrier Emirates. Aviation analysts and former Boeing employees have criticized the company's reported sidelining of engineers in its senior management ranks. Boeing CEO Dave Calhoun will also step down at the end of 2024. "Whether, yet again, this changing of the guard will resolve Boeing's issues only time will tell, but time, unfortunately, is not on their side," Clark said.
Persons: Tim Clark, Max, Clark, Stan Deal, shakeup, Stephanie Pope, Dave Calhoun Organizations: Boeing, Emirates Airline, Alaska Airlines, Federal Aviation Administration, Justice Department, FAA, Max, Emirates, Machinists, Aviation, CNBC
BA YTD mountain Boeing stock has slumped more than 26% from the start of the year after the Alaska Airlines 737 Max controversy. Stifel The firm has a buy rating on Boeing stock with a $270 per share price target, or 41% upside from Monday's close. TD Cowen TD Cowen has a buy rating on Boeing stock with a $230 per share price target, or 20% above Monday's close. JPMorgan maintains an overweight rating on Boeing with a $230 per share price target, or about 20% above Monday's close. JPMorgan maintains an overweight rating on Boeing stock with a $230 per share price target, or about 20% moving forward.
Persons: shakeup, Max, David Calhoun, Calhoun isn't, Larry Kellner, Stan Deal, Stephanie Pope, Pope, Calhoun, Bert Subin, Max —, Bank of America Bank of America's Ronald Epstein, TD Cowen TD Cowen, TD Cowen, Cai von Rumohr, Dave Calhoun, Morgan Stanley Morgan Stanley's Kristine Liwag, David Calhoun's, Wolfe, Wolfe Research Wolfe, Myles Walton, Seth Seifman, Seth M, Seifman Organizations: Alaska Airlines, Boeing, Bank of America Bank of America's, Wolfe Research, JPMorgan, FAA, Federal Aviation Administration Locations: Calhoun, Alaska
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 named Stephanie Pope the new CEO of its commercial airlines division on Monday. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementStephanie Pope knows Boeing well: a third-generation employee, she joined the company in 1994. Pope did not immediately respond to a request for comment from Business Insider sent outside regular business hours.
Persons: Stephanie Pope, , Pope, Stan Deal, Michelle Ryan, Elon Musk, Linda Yaccarino, Yaccarino, Carly Fiorina, Marissa Mayer, Sue Gove, Calhoun Organizations: Boeing, Service, BCA, Boeing Global Services, Twitter, HP, Yahoo, Bed, Business Insider
Boeing CEO Dave Calhoun is stepping down. Calhoun was appointed CEO of Boeing after the planemaker's former CEO, Dennis Muilenburg, stepped down in December 2019 following two crashes of another Max variant, the Max 8. Calhoun also said that Boeing Chair Larry Kellner wouldn't be standing for reelection, with Steve Mollenkopf elected by the board as his replacement. Calhoun added that Stan Deal, the CEO of Boeing Commercial Airplanes, was retiring and would be replaced by Stephanie Pope, effective immediately. I also want to thank Stephanie for taking on this critical role.
Persons: Dave Calhoun, Calhoun, Dennis Muilenburg, Max, Calhoun didn't, Larry Kellner wouldn't, Steve Mollenkopf, Stan Deal, Stephanie Pope, He'd, Read, Larry Kellner, Larry, Steve, Stan, Stephanie, Dave Organizations: Boeing, Alaska Airlines, Max, Federal Aviation Administration, Qualcomm, Boeing Commercial Airplanes, BCA
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
Boeing CEO Dave Calhoun will step down at the end of 2024, the company said Monday. Boeing's chair Larry Kellner and its commercial planes head Stan Deal are also leaving. AdvertisementBoeing CEO Dave Calhoun announced Monday he will resign at the end of the year. The overhaul of Boeing's top management also extends to the chairman, Larry Kellner, and the CEO of its commercial airplanes division, Stan Deal. Kellner, the chair of the board since 2019, won't stand for reelection at the upcoming annual shareholder meeting.
Persons: Dave Calhoun, Calhoun, Boeing's, Larry Kellner, Stan Deal, , Stephanie Pope, Kellner Organizations: Alaska Airlines, Max, Service, Boeing, Deal
Boeing CEO Dave Calhoun speaks to reporters as he departs from a meeting at the office of Sen. Mark Warner (D-VA) on Capitol Hill January 24, 2024 in Washington, DC. Boeing CEO Dave Calhoun will step down at the end of 2024 in part of a broad management shakeup for the embattled aerospace giant. Chairman of the board Larry Kellner is also resigning and will leave the board at Boeing's annual meeting in May. And Stan Deal, president and CEO of Boeing Commercial Airplanes, is leaving the company effective immediately. Scrutiny intensified after a Jan. 5 accident, when a door plug blew out of a nearly new Boeing 737 Max 9, minutes into an Alaska Airlines flight.
Persons: Dave Calhoun, Sen, Mark Warner, Larry Kellner, Steve Mollenkopf, Stan Deal, Stephanie Pope, Kellner, Calhoun, Dennis Muilenburg Organizations: Capitol, Boeing, Boeing Global Services, Alaska Airlines Locations: Washington , DC
New York CNN —Boeing CEO Dave Calhoun said Monday he intends to leave the beleaguered company by the end of the year in a major shakeup of the company’s leadership. The company also announced that Stan Deal, CEO of Boeing Commercial Airplanes, is retiring. The problems have led to multiple groundings for safety issues and more than $31 billion in cumulative losses. But it comes in the face of widespread criticism of the company by CEOs of many of the world’s major airlines Boeing depends upon to buy its planes. Any Boeing customer shifting to Airbus could find itself waiting until 2030 or beyond to get its planes delivered.
Persons: Dave Calhoun, Larry Kellner, Steve Mollenkopf, Stan Deal, Stephanie Pope, Max, Calhoun, , Let’s, “ I’ve, Boeing won’t, Michael O’Leary, O’Leary, Scott Kirby, Ben Minicucci, Dennis Muilenburg, Muilenburg, Calhoun’s Organizations: New, New York CNN, Boeing, Qualcomm, Alaska Airlines, Max, CNBC, Alaska Air, ” Airlines, Ryanair, Europe’s, CNN, , ” United Airlines, United, Airbus, Virgin America Locations: New York, Alaska, ” United
Boeing announced that Dave Calhoun is stepping down as CEO at the end of this year. AdvertisementDave Calhoun plans to resign as Boeing's CEO at the end of this year, the company announced Monday. In December 2019, former Boeing CEO Dennis Muilenburg was fired after two crashes involving a different Max variant, the Max 8, killed 346 people in 2018 and 2019. Advertisement"As you all know, the Alaska Airlines Flight 1282 accident was a watershed moment for Boeing," Calhoun said in a memo to employees announcing the change. The CEO told CNBC that he would weigh in on who becomes the next CEO, but he said the board will ultimately make the decision.
Persons: Dave Calhoun, Calhoun, , I've, Dennis Muilenburg, Max, Stephanie Pope, Stan Deal, Larry Kellner Organizations: Boeing, Service, CNBC, Alaska Airlines, Federal Aviation Administration, Department of Justice, National Transportation Safety, Boeing Commercial Airplanes
Boeing announced Monday that its chief executive, David Calhoun, would step down at the end of 2024 as part of a broad management shake-up, as the aircraft maker grapples with its most significant safety crisis in years. Boeing also announced that its chairman, Larry Kellner, would not stand for re-election. The board elected Steve Mollenkopf, an electrical engineer by training and the former chief executive of Qualcomm, as its new chairman. In that role, he will lead the process of choosing Boeing’s next chief executive. The management overhaul comes less than three months after a panel, known as a door plug, blew off a Boeing Max 9 during an Alaska Airlines flight on Jan. 5.
Persons: David Calhoun, Stan Deal, Stephanie Pope, Larry Kellner, Steve Mollenkopf, Boeing’s Organizations: Boeing, Qualcomm, Boeing Max, Alaska Airlines
Dave Calhoun named a new chief executive of Boeing's commercial airplanes division. In his Monday announcement that he'd be stepping down as CEO of Boeing, Dave Calhoun also named Stephanie Pope as the new head of its commercial airplanes division. She replaces Stan Deal as CEO of Boeing Commercial Airplanes, which designs and builds planes such as the 777, 787 Dreamliner and the 737 family. She is deeply committed to our company, to our employees and to our shared future; and she is the perfect person to take on the leadership of our commercial airplanes business." AdvertisementShe was CEO of the global services division before becoming COO and has also held senior roles in other business units including commercial airplanes.
Persons: Dave Calhoun, Stephanie Pope, Stan Deal, She's, , Pope, Calhoun, Stephanie Organizations: BCA, Boeing, Service, Airplanes, Boeing Global Services, Alaska Airlines, Eisenhower, Southwest Missouri State University, Lindenwood University Locations: Seattle, Renton, Everett, Washington, Calhoun, Brussels, Ireland
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
Boeing said on Wednesday that it was shaking up the leadership in its commercial airplanes unit after a harrowing incident last month during which a piece fell off a 737 Max 9 jet in flight. Ed Clark, the head of Boeing’s 737 Max program, which includes the Max 9, is leaving immediately, Stan Deal, the chief executive of the commercial airplanes unit, said in a memo to employees. Boeing, which also announced other leadership changes, has been under pressure from regulators, airlines and members of Congress to prove that it is committed to making safe planes. Boeing said recently that it was overhauling its quality control process, including increased inspections at the factory in Renton, Wash., where Mr. Clark oversaw Max production. Those crashes cost Boeing billions of dollars, damaged its image and attracted more scrutiny of the company from regulators worldwide.
Persons: Ed Clark, Stan Deal, Clark, Max Organizations: Boeing, Alaska Airlines, Max Locations: Renton, Wash, Alaska
The Boeing executive who oversaw the 737 Max program is leaving the company. Ed Clark's departure follows a midair blowout on a 737 Max flight in January due to missing bolts. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe Boeing executive responsible for the company's 737 Max program is out at the company weeks after one of its aircraft suffered a midair blowout on a January flight. Ed Clark, who oversaw production of the 737 Max, is "leaving the company" after almost 18 years, Stan Deal, chief executive of Boeing's commercial airplane division, said in a company memo obtained by Business Insider.
Persons: Ed Clark's, , Ed Clark, Stan Deal Organizations: Boeing, Service, Business
A person walks past an unpainted Boeing 737-8 MAX parked at Renton Municipal Airport adjacent to Boeing's factory in Renton, Washington on January 25, 2024. The company's 737 program head, Ed Clark, is leaving the company, Stan Deal, CEO of Boeing's commercial airplane unit, said in memo to employees. "Ed departs with my, and our, deepest gratitude for his many significant contributions over nearly 18 years of dedicated service to Boeing," Deal said. A month after the Alaska Airlines flight, Boeing said misdrilled holes on some Max planes would delay handovers of the aircraft to airlines. The door plug that blew out of the almost brand-new 737 Max 9 used for Alaska Airlines Flight 1282 has already brought increased scrutiny and restrictions from federal regulators.
Persons: Max, Ed Clark, Stan Deal, Katie Ringgold, Deal, Elizabeth Lund, Lund, Ed, it's Organizations: Renton Municipal Airport, Boeing, Alaska Airlines, National Transportation Safety, Federal Aviation Administration, Airbus, CNBC PRO Locations: Renton, Renton , Washington, Alaska, United
Airline CEOs have criticized Boeing in the wake of the Alaska Airlines blowout. AdvertisementThe Alaska Airlines blowout in January has subjected Boeing to a torrent of criticism from airline executives. AdvertisementFrom Boeing's biggest customer to regulators' strong words, the incident has sparked a wave of public criticism, a rarity in the aviation sector. AdvertisementAs the FAA increased its oversight of Boeing's production line, Administrator Mike Whitaker said: "The quality-assurance issues we have seen are unacceptable." Pete Buttigieg, the transportation secretary, backed the FAA's actions, saying it "is holding Boeing accountable for its production quality problems."
Persons: , Stan Deal, Scott Kirby, United Airlines Scott Kirby, Brian Snyder United, didn't, Max, Kirby, Ben Minicucci, Minicucci, Michael O'Leary, Ryanair Michael O'Leary, Yves Herman Ireland, O'Leary, Dave Calhoun, Tim Clark, they've, Clark, Mike Whitaker, Pete Buttigieg, Win McNamee, Donald Trump, Whitaker Organizations: Boeing, Alaska Airlines, FAA, Service, Street Journal, Airplanes, United Airlines, REUTERS, CNBC, NBC, Ryanair, Financial Times, Airbus, Emirates, Transportation, Max, Federal Aviation Administration Locations: Alaska
Boeing said that a new problem with the fuselages of some unfinished 737 jets would force the company to rework about 50 planes, potentially delaying their delivery and raising further concerns about quality control at the manufacturer and its suppliers. Stan Deal, the chief executive of Boeing’s commercial plane unit, said in a memo to employees on Sunday that a supplier last wee had identified that “two holes may not have been drilled exactly to our requirements.” It did not name the supplier. The issue was “not an immediate flight safety issue and all 737s can continue operating safely,” Mr. Deal said. He added that all 737s currently in use could continue flying. The new problems were another setback for Boeing, which has been under pressure from regulators, investors and its airline customers since Jan. 5, when a panel on a 737 Max 9 jet operated by Alaska Airlines blew out mid-flight, forcing an emergency landing and the grounding of Max 9s in the United States.
Persons: Stan Deal, , Deal, Max Organizations: Boeing, Alaska Airlines Locations: United States
New quality glitch to delay some Boeing 737 Max deliveries
  + stars: | 2024-02-05 | by ( ) www.cnbc.com   time to read: +1 min
A Boeing 777-9 jetliner aircraft is pictured on the tarmac during the 2023 Dubai Airshow at Dubai World Central - Al-Maktoum International Airport in Dubai on Nov. 13, 2023. Boeing Co said on Sunday it will have to do more work on about 50 undelivered 737 Max airplanes, potentially delaying near-term deliveries, after its supplier Spirit AeroSystems discovered two mis-drilled holes on some fuselages. "This past Thursday, a supplier notified us of a non-conformance in some 737 fuselages. "While this potential condition is not an immediate flight safety issue and all 737s can continue operating safely, we currently believe we will have to perform rework on about 50 undelivered airplanes," Deal said. The checks focus on potentially incorrect positioning of two holes on a window frame assembly supplied by Spirit, a condition known as "short edge margin," the sources said.
Persons: AeroSystems, Stan Deal Organizations: Boeing, Maktoum International Airport, Boeing Commercial, Spirit Locations: Dubai, Al, Maktoum
London CNN —Tim Clark, the president of Emirates, has joined a chorus of airline executives in warning that Boeing is running out of time to restore its reputation following a series of safety and manufacturing blunders. I’m sure Dave Calhoun and Stan Deal are on that,” he added, referring to Boeing’s CEO and head of commercial airplanes respectively. Clark isn’t the first airline boss to criticize Boeing since part of the fuselage of a 737 Max 9 blew out mid-flight in early January. Clark said that for the first time Emirates would send its own engineers to observe the production process of the 777 at Boeing and its supplier Spirit AeroSystems. “The fact that we’re having to do that is testament to what has happened,” he told the Financial Times.
Persons: Tim Clark, Clark, “ They’ve, Dave Calhoun, Stan Deal, Clark isn’t, Scott Kirby, , “ Will, Will, they’ve, Calhoun’s, that’s, , Michael O’Leary, Brian West Organizations: London CNN, Emirates, Boeing, Financial, ” Emirates, CNBC, Alaska Airlines, Financial Times, “ Will Boeing, Will Boeing, CNN, Ryanair — Europe’s Locations: Alaska, Dubai, Indonesia, Ethiopia, Calhoun
In the latest manufacturing error to plague Boeing, a supplier of 737 Max aircraft components discovered misdrilled holes on the fuselages of 50 planes that were in production for the aircraft company, according to a new report from The Wall Street Journal. An employee of Spirit AeroSystems, which creates the fuselage, nacelles, and struts for various Boeing aircraft, alerted their manager to the inaccurate drill holes while the 737 Max planes were making their way through the production process, according to the report. AdvertisementRepresentatives for Boeing and Spirit AeroSystems did not immediately respond to requests for comment from Business Insider. The incident involved a Spirit AeroSystems fuselage, per The Journal. In response to the in-flight emergency , the airline grounded its fleet of 65 Boeing 737 Max 9 planes pending a safety inspection.
Persons: Airplanes Stan Deal, AeroSystems Organizations: Boeing, Max, Wall Street, Airplanes, Business, Alaska Airlines, United Airlines
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