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☆ Boeing will delay its 777X plane and cut 10% of workforce as it deals with a strike and 737 Max issues
▼ + stars: | 2024-10-11 | by ( Kelsey Vlamis | Taylor Rains | ) www.businessinsider.com time to read: +1 min

Boeing said Friday that it would cut 10% of its 170,000-strong workforce. The planemaker is still dealing with the fallout of quality-control issues on some of its plane models. Go to newsletter preferences Thanks for signing up! AdvertisementBoeing said Friday that it would cut its workforce by 10%, further delay its 777X plane, and discontinue a freighter model as it deals with the financial fallout of an ongoing strike. Other cost-cutting measures include discontinuing the 767 cargo plane, Ortberg said.

Persons: Kelly Ortberg, —, Ortberg Organizations: Boeing, Service

☆ Judge scrutinizes Boeing plea deal and will decide case ‘soon’
▼ + stars: | 2024-10-11 | by ( Reuters | Chris Isidore | ) edition.cnn.com time to read: +6 min

Boeing agreed in July to plead guilty to conspiring to defraud regulators. Prosecutors arrived at the plea agreement after an extensive investigation and a series of meetings with the families, prosecutors said. He argued the judge should accept the plea agreement. The Justice Department argued that the penalties Boeing agreed to were the most serious available. During a three-year probationary period that followed, Boeing agreed to improve its quality issues and transparency with the government.

Persons: Max, Reed O’Connor, Judge O’Connor, Paul Cassell, ”, ’, Sean Tonolli, Department’s, Boeing “, ” Mark Filip, “ Organizations: New, New York CNN, Boeing, US Justice Department, Prosecutors, Justice Department, Alaska Airlines, Department, Federal Aviation Administration, FAA Locations: Fort Worth , Texas, New York, United States, Alaska

☆ Tensions are rising in the Boeing strike after the planemaker filed a complaint against the union
▼ + stars: | 2024-10-11 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

The Boeing strike is growing increasingly ill-tempered as both sides have filed NLRB complaints. AdvertisementBoeing filed a complaint on Thursday with the National Labor Relations Board against the union representing 33,000 of its workers. Rising tensions are palpable, and a longer strike would continue to hurt Boeing. AdvertisementBank of America analyst Ron Epstein estimated that the strike is costing Boeing $50 million a day. "Given that position, further negotiations do not make sense at this point," Stephanie Pope, CEO of Boeing Commercial Airplanes, told employees in an email Tuesday.

Persons: —, Ron Epstein, Boeing's, Kelly Ortberg, Stephanie Pope, Mike Fitzsimmons Organizations: Boeing, Service, National Labor Relations Board, International Association of Machinists, Aerospace Workers, IAM, NLRB, Bank of America, Business, Airplanes, Seattle Times, BI Locations: Seattle

☆ Airbus monthly deliveries fall, piling pressure on annual target as production woes persist
▼ + stars: | 2024-10-10 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Airbus reported lower monthly deliveries late on Wednesday, putting its annual production target under pressure as supply chain struggles continue to plague the industry. The company said at the time it was facing "persistent specific supply chain issues mainly in engines, aerostructures and cabin equipment." For September it picked up another 235 orders, taking the annual total to 648. But production challenges and supply chain shortages across the whole aviation industry mean that manufacturers cannot get planes out as fast as they want. Airbus has a new model called the A321XLR, set to be the world's longest-range single-aisle aircraft, due to launch customer Iberia in the coming months after numerous delays.

Organizations: Airbus Locations: Seville, Andalusia, Spain, Delta

☆ Boeing's latest headache: a possible junk downgrade
▼ + stars: | 2024-10-09 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +3 min

S&P Global Ratings may downgrade Boeing bonds due to cash issues amid a strike. The strike risks Boeing's recovery and affects 737 Max production — and the company's cash flow. Moody's also recently put Boeing on a downgrade review. AdvertisementTo add to Boeing's list of troubles, S&P Global Ratings is considering downgrading its bonds because of the company's growing cash problems amid a mass workers' strike. Last month, another credit agency, Moody's, also put the company on a downgrade review, citing the strike and its impact on cash flow.

Persons: —, Moody's, Max Organizations: Boeing, Service Locations: Washington and Oregon, furloughing

☆ Boeing's negotiations with union leaders break down 2 days after restarting
▼ + stars: | 2024-10-09 | by ( Pete Syme | ) www.businessinsider.com time to read: +4 min

Boeing and union leaders resumed negotiations on Monday but reached a stalemate by the end of Tuesday. AdvertisementTalks between Boeing and union leaders have broken down two days after restarting. The first offer of a 25% pay rise was overwhelmingly rejected, while the union criticized Boeing for sending its second offer to the media and not negotiating with union leaders. "The company was hell-bent on standing on the non-negotiated offer," the union negotiating committee for IAM District 751 said on Tuesday. The IAM District 751 negotiating committee also said it "remains ready to continue mediated or direct talks."

Persons: —, Stephanie Pope, Pope, Ron Epstein, Jon Ostrower, Kelly Ortberg Organizations: Boeing, Bank of America, Service, International Association of Machinists, Aerospace Workers, IAM, The, Alaska Airlines Locations: Seattle, Pacific

☆ Boeing withdraws contract offer after talks with union end without a deal
▼ + stars: | 2024-10-09 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

Workers picket outside a Boeing Co. facility during a strike in Everett, Washington, US, on Monday, Sept. 16, 2024. Boeing Co. factory workers walked off the job for the first time in 16 years, halting manufacturing across the planemaker's Seattle hub after members of its largest union voted overwhelmingly to reject a contract offer and go on strike. Boeing withdrew a contract offer for 33,000 machinists who have been on strike since mid-September, and said further negotiations "do not make sense at this point." Boeing later sweetened the offer, increasing pay raises, a ratification bonus and other improvements, which the union turned down, arguing that it was not negotiated. The union, the International Association of Machinists and Aerospace Workers, said Tuesday that Boeing refused to improve wages, retirement plans and vacation or sick leave.

Persons: Stephanie Pope, Pope Organizations: Boeing Co, Boeing, Puget, International Association of Machinists, Aerospace Workers Locations: Everett , Washington, US, Seattle

☆ The cost of Boeing's strike keeps rising as talks continue
▼ + stars: | 2024-10-07 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Boeing is set to resume negotiations with union bosses on Monday. Thousands of members of the IAM union have been on strike since September 13. A group of Bank of America analysts, led by Ron Epstein, estimated that the strike was costing Boeing $50 million a day. Some 33,000 Boeing workers represented by the International Association of Machinists and Aerospace Workers have been on strike since September 13. Nearly 95% of union members voted against Boeing's initial offer of a 25% pay rise across the four-year contract.

Persons: —, Ron Epstein, Kelly Ortberg, Boeing's Organizations: Boeing, Analysts, IAM, Service, Bank of America, International Association of Machinists, Aerospace Workers, Reuters, Business Insider

☆ An Asian airline hopes launching one of the world's longest narrowbody routes will actually be a comfort upgrade for passengers
▼ + stars: | 2024-09-30 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

Air Astana is launching one of the world's longest narrowbody routes from Almaty to London. AdvertisementAir Astana is launching one of the world's longest narrowbody routes with the aim of increasing comfort for passengers. The Kazkhstani flag carrier announced last Wednesday that it will use an Airbus A321LR on its route from Almaty to London. Plus, Air Astana is a relatively small carrier, as it only has three widebody jets, all Boeing 767s. European budget airline Wizz Air earlier this month announced its first route utilizing the Airbus A321XLR on seven-hour flights.

Persons: —, that's, József Váradi Organizations: Air Astana, Airbus, Service, Boeing, British Airways, Wizz, Air, Kazakhstani Locations: Almaty, London, Aktau, Kazakhstan, Dallas, Fort Worth, Jeddah, Saudi Arabia

☆ NTSB issues ‘urgent’ safety warning for some Boeing 737s, including MAX, in latest blow to struggling planemaker
▼ + stars: | 2024-09-26 | by ( Pete Muntean | ) edition.cnn.com time to read: +3 min

CNN —The National Transportation Safety Board is issuing “urgent safety recommendations” for some Boeing 737s—including the embattled 737 MAX line— warning that critical flight controls could jam. The independent investigative agency is issuing the warning that an actuator attached to the rudder on some 737 NG and 737 MAX airplanes could fail. The warning is the latest black eye for Boeing. The NTSB is recommending that Boeing come up with an alternative solution and warn pilots about the issue. That scrutiny grew after a door plug blew off a 737 Max operated by Alaska Airlines shortly after takeoff on January 5.

Persons: “, ’, ”, Max, CNN’s Chris Isidore Organizations: CNN, Transportation Safety, Boeing, NTSB, United Airlines, FAA, Alaska Airlines, Federal Aviation Administration, US Justice Department Locations: Newark

☆ U.S. Senate committee faults Boeing safety practices, FAA oversight
▼ + stars: | 2024-09-25 | by ( ) www.cnbc.com time to read: +3 min

Boeing CEO Dave Calhoun testifies before a subcommittee of the Senate Energy and National Resources Committee on the company's safety culture, following a number of recent incidents on Boeing airplanes, Washington, DC, June 18, 2024. A U.S. Senate panel investigating Boeing 's safety culture on Wednesday faulted the planemaker's quality practices and oversight by the Federal Aviation Administration citing documents obtained in an ongoing investigation. The Senate Permanent Subcommittee on Investigations, which is holding a hearing Wednesday with FAA Administrator Mike Whitaker, said Boeing workers continue to feel pressure to prioritize speed of production over quality. Boeing said it has "taken important steps to foster a safety culture that empowers and encourages all employees to share their voice, but it will require continuous focus." The FAA did not comment but Whitaker said at a House hearing Tuesday that Boeing needed to undertake significant safety culture improvements that might not be completed for years.

Persons: Dave Calhoun, Mike Whitaker, Whitaker, Whitaker's Organizations: Senate Energy, National Resources Committee, Boeing, U.S, Senate, Federal Aviation Administration, Investigations, Democratic, FAA, Alaska Airlines, Justice Department, DOJ Locations: Washington, DC

☆ Boeing just put out its 'final and best' offer to striking workers: a 30% wage hike and a $6,000 bonus
▼ + stars: | 2024-09-24 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +1 min

Boeing is offering a 30% wage hike to its employees in a new proposal. Workers started striking on September 13 after rejecting a wage increase offer. AdvertisementOn Monday, Boeing brought another offer to the table and increased its wage proposal for the 32,000 employees who went on strike on September 13. In the new proposal, the planemaker is offering a 30% wage increase over four years, an increase from the previous 25% hike. In its previous proposal, Boeing offered workers a $3,000 bonus if they signed the contract.

Persons: — Organizations: Boeing, Workers, Service, Friday, Business

☆ Boeing still has a long way to go to convince striking workers
▼ + stars: | 2024-09-24 | by ( Pete Syme | ) www.businessinsider.com time to read: +1 min

Boeing and unionized workers remain at an impasse after 10 days of striking. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAfter 10 days on strike, Boeing and unionized workers remain at loggerheads with few signs of a prompt resolution. Some 32,000 Boeing employees are members of the International Association of Machinists and Aerospace Workers (IAM) and have been on strike since September 13.

Persons: — Organizations: Boeing, IAM, Service, International Association of Machinists, Aerospace Workers, Business

☆ Boeing’s head of defense unit Ted Colbert to leave
▼ + stars: | 2024-09-20 | by ( Reuters | Cnn'S Chris Isidore | ) edition.cnn.com time to read: +2 min

Reuters —Boeing said on Friday that Ted Colbert, president and CEO of its defense, space and security unit will be leaving the company effective immediately. “I’d like to share that Ted Colbert, president and CEO of Boeing Defense, Space & Security (BDS), will be leaving Boeing, and that l’ve asked Steve Parker to temporarily oversee BDS, effective immediately, until a replacement for Ted is named at a later date,” Kelly Ortberg, Boeing’s president and CEO, said Friday in a statement. In the most recent quarter, Boeing’s Defense, Space & Security unit lost $913 million, up from the $527 million loss in the same period a year ago, after a narrow profit in the first quarter. But both the second quarter loss and the 2023 full-year loss were more than the company’s troubled commercial aircraft unit lost in the same periods. Boeing’s shares closed down about 1% on Friday and have lost about 41% so far this year.

Persons: Ted Colbert, Steve Parker, “, l’ve, Ted, ” Kelly Ortberg, ”, Utkarsh, Shounak Dasgupta Organizations: Reuters, Boeing, Boeing Defense, Space & Security, BDS, Boeing Company, Boeing’s Defense, & $ Locations: Bengaluru

☆ A push toward sustainable jet fuel is leaving investors with unanswered questions
▼ + stars: | 2024-09-17 | by ( Jenni Reid | ) www.cnbc.com time to read: +8 min

Bloomberg | Bloomberg | Getty ImagesThe aviation industry still sees so-called "sustainable aviation fuel" (SAF) as the only viable way to meet its decarbonization targets, even as opposition and the potential for higher costs for passengers pose obstacles to the fast-growing sector. SAF is a broad term describing fuel that is burned by an aircraft engine, but instead of using kerosene is derived from more sustainable sources. The planemaker said it is collaborating with producer HIF Global on the development of methane-based fuels, and investing in alcohol-to-jet fuel producer LanzaJet. But IATA's own forecast for SAF production to triple in 2024 to 1.9 billion liters would cover just 0.53% of aviation fuel demand for the year. "The truth is, it's going to be more expensive, you can't really sugarcoat that," said HIF Global's Clara Bowman.

Persons: Neste, HIF, Buzz, Lauren Riley, Riley, Rick Nagel, You've, Clara Bowman, Bowman, United's Lauren Riley, HIF Global's Clara Bowman Organizations: SAF, Bloomberg, Getty, United Airlines, Chicago O'Hare International, Labour, Airbus, Farnborough Air, CNBC, International Air Transport Association, Acorn Capital Management, Porsche, HIF, Union's Renewable Energy Directive, Biden, Boeing, Google, Embraer Locations: Singapore, Chile, Texas, U.S, America

☆ Boeing workers are set to strike — and it could cost the company billions
▼ + stars: | 2024-09-13 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

The walkout depressed revenues in the period by $4.3 billion, Boeing said at the time. Another strike of that length would cost Boeing at least $3 billion, according to a TD Cowen research note cited by The New York Times. The rejected deal would have cost Boeing an extra $900 million a year if passed, they noted. A Boeing strike in 1989 cost the company $2.5 billion in lost revenue, and the next one in 2005 cost it about $1 billion, the American Action Forum noted in a paper this week. "This may be because Boeing generally delays orders rather than losing them, so their revenue is time-shifted rather than diminished."

Persons: —, Cowen, Kelly Ortberg, they're Organizations: Service, Boeing, International Association of Machinists, Aerospace Workers, IAM, Business, The New York Times, Jefferies, CNBC, American Action, AAF

☆ See inside the Brazilian C-390 Millennium that Boeing once wanted to buy but now doesn't have an answer to
▼ + stars: | 2024-09-08 | by ( Taylor Rains | Pete Syme | ) www.businessinsider.com time to read: +1 min

Boeing once wanted to buy a stake in Embraer's C-390 Millennium military aircraft. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementBoeing doesn't have an answer to US aerospace company Lockheed Martin's C-130 Hercules military plane — but it used to.

Persons: —, Lockheed Martin's Organizations: Boeing, Embraer's, Service, Lockheed, Brazilian, Embraer, Business

☆ Boeing's new CEO is already showing that improving quality control is his top priority
▼ + stars: | 2024-08-13 | by ( Pete Syme | ) www.businessinsider.com time to read: +1 min

Kelly Ortberg visited two key production facilities in his first few days in charge. Ortberg also plans to be based near Seattle, Boeing's historic base and its manufacturing hub. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementBoeing's new CEO is endeavoring to turn the company around, beginning by building a closer relationship with factory workers.

Persons: Kelly Ortberg, Ortberg, —, Max, AeroSystems Organizations: Service, Boeing, Business Locations: Seattle, Renton , Washington, Wichita , Kansas

☆ Boeing workers paint a picture of chaos and dysfunction in NTSB investigation
▼ + stars: | 2024-08-06 | by ( Chris Isidore | Pete Muntean | ) edition.cnn.com time to read: +10 min

The worker said there was no special training to open, close, or remove a door plug versus a regular door. But there were problems with the rivets by the door plug that needed to be repaired, so the door plug was removed so the work could be done. There were Spirit employees at the Boeing plant, but communication between the Boeing and Spirit workers on the floor of the Boeing factory wasn’t good, according to another interview transcript released Tuesday. But there were problems with five rivets near where the door plug was installed, and Boeing workers removed the door plug in order to fix those rivets. Boeing’s mounting problemsBut the probe is only one of the problems Boeing faces because of the incident.

Persons: Max, ”, “, haven’t, Jennifer Homendy, Elizabeth Lund, Lund, Doug Ackerman, Homendy, ” Homendy, CNN’s Owen Dahlkamp, Danya Gainor, Celina Tebor, Nicki Brown, Ramishah Maruf Organizations: Washington CNN — Workers, Boeing, National Transportation, NTSB, FAA, Spirit, Alaska Airlines, Max, Airplanes ’, Boeing Commercial Airplanes, FBI, Federal Aviation Administration, Justice Department, DOJ Locations: United States, Renton , Washington, Alaska

☆ Boeing's new CEO already seems to have given a major indication of where his priorities lie
▼ + stars: | 2024-08-01 | by ( Pete Syme | ) www.businessinsider.com time to read: +5 min

Read previewBoeing's incoming CEO, Kelly Ortberg, is already signaling his intent to get the planemaker back on track. Later that month, The Seattle Times reported that Boeing's board shut down a shareholder's bid to move its headquarters back to Seattle. Outgoing CEO Dave Calhoun last year faced criticism from employees after commuting to Boeing's HQ by private jet, The Wall Street Journal reported. Airline bosses like Emirates' Tim Clark had called on Boeing to appoint a new CEO with an engineering background. Boeing's incoming CEO, Kelly Ortberg, is an aerospace veteran.

Persons: —, Kelly Ortberg, Ortberg, It's, Rockwell Collins, Max, Lindsey Wasson, Maria Cantwell, Dave Calhoun, Calhoun, Tim Clark, we've, Nicolas Owens, Owens, Bob Clifford, preventively Organizations: Service, Seattle Times, Boeing, Reuters, Business, Alaska Airlines, Federal Aviation Administration, REUTERS, Commerce, Science, Transportation, Street Journal, Morningstar Locations: Seattle, Chicago, Virginia, Washington, South Carolina, Renton , Washington, Emirates, Blackstone

☆ Boeing 737 Max crash families say planemaker should face much higher fine
▼ + stars: | 2024-07-31 | by ( ) www.cnbc.com time to read: +3 min

Families for some of the 346 people killed in two fatal Boeing 737 Max crashes said on Wednesday a U.S. judge should reject the planemaker's proposed plea deal with the Justice Department and the government should seek a much higher fine. Spokespeople for Boeing and the Justice Department did not immediately comment on the families' filings. The DOJ told Boeing earlier this month it could accept a settlement that branded the planemaker a felon or fight the charge in court. The Justice Department has a separate criminal probe ongoing into the Alaska Airlines jet that was missing four key bolts. The company's board -- including new CEO -- must meet with the victims' families within four months of sentencing.

Persons: Nadia Milleron, Samya Stumo, Dennis Muilenburg, Hart, Paul Cassell, Cassell, Adrian Vuckovich, Max Organizations: Ethiopian Airlines, Boeing, Senate Commerce, Science, Justice Department, DOJ, The, Department, Alaska Airlines Locations: Indonesia, Ethiopia

☆ Boeing just named its new CEO — an aerospace veteran with the tough task of getting the planemaker back on track
▼ + stars: | 2024-07-31 | by ( Pete Syme | ) www.businessinsider.com time to read: +1 min

Industry veteran Kelly Ortberg will be the new CEO of Boeing. He faces a tough task to get the planemaker back on track after the Alaska Airlines blowout. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementBoeing announced that its new CEO will be Kelly Ortberg, the former boss of avionics firm Rockwell Collins. This story is available exclusively to Business Insider subscribers.

Persons: Kelly Ortberg, —, Rockwell Collins, Ortberg, Dave Calhoun, Steve Mollenkopf Organizations: Boeing, Airline, Alaska Airlines, Service, Business

☆ Boeing and Airbus go head-to-head at a giant industry airshow every 2 years. This time, neither won.
▼ + stars: | 2024-07-29 | by ( Pete Syme | Taylor Rains | ) www.businessinsider.com time to read: +4 min

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

☆ Qatar Airways CEO says complaining about Boeing delays would be 'crying over spilled milk' as airline expands 777X order
▼ + stars: | 2024-07-26 | by ( Pete Syme | Taylor Rains | ) www.businessinsider.com time to read: +1 min

Qatar Airways' CEO told reporters he expects its first Boeing 777X in early 2026. The world's best airline also expanded its 777X order at the Farnborough Airshow. It's a sign of confidence in Boeing during a testing period for the planemaker. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementQatar Airways' CEO isn't dwelling on delays to the Boeing 777X, in a sign of confidence for the embattled planemaker.

Persons: —, Badr Mohammed Al, Meer Organizations: Qatar Airways, Boeing 777X, Farnborough, Boeing, Service, Business

☆ U.S. finalizes details of Boeing 737 Max plea deal
▼ + stars: | 2024-07-24 | by ( ) www.cnbc.com time to read: +1 min

Boeing confirmed it had filed a detailed plea agreement with the Justice Department. "We will continue to work transparently with our regulators as we take significant actions across Boeing to further strengthen our safety, quality and compliance programs," the company said. As part of the deal, the planemaker agreed to spend at least $455 million over the next three years to boost safety and compliance programs, the filing said. The deal also imposes an independent monitor, who will have to publicly file annual progress reports, to oversee the firm's compliance. Boeing will be on probation during the monitor's three-year term and it can be extended by a year if Boeing does not comply with the terms.

Persons: Reed O'Connor Organizations: Department, Boeing, Federal Aviation Administration, Justice Department, Max

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