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☆ Boeing CEO Kelly Ortberg needs to change the company culture, says Yale's Gautam Mukunda
▼ + stars: | 2024-10-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBoeing CEO Kelly Ortberg needs to change the company culture, says Yale's Gautam MukundaGautam Mukunda, professor of management at the Yale School of Management, joins 'Squawk Box' to discuss the state of the machinist strike at Boeing, the challenges facing the company and CEO Kelly Ortberg, and more.

Persons: Kelly Ortberg, Yale's Gautam Mukunda Gautam Mukunda Organizations: Boeing, Yale School of Management

☆ Boeing to raise as much as $25 billion to shore up balance sheet
▼ + stars: | 2024-10-15 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

Striking Boeing workers and their supporters picket outside the Boeing Co. manufacturing facility in Renton, Washington, on Sept. 16, 2024. Earlier, Boeing separately said in a filing that it has an agreement with a consortium of banks for a $10 billion credit agreement. "The credit facility provides additional short term access to liquidity as we navigate through a challenging environment," the company said in a statement. Boeing shares are down nearly 43% this year through Monday's close. Boeing is trying to shore up its balance sheet as it faces warnings from credit ratings agencies that it could lose its investment grade rating.

Persons: Boeing's, Kelly Ortberg, Ortberg Organizations: Boeing, Boeing Co Locations: Renton , Washington, Monday's

☆ CNBC Daily Open: The economy and inflation might stay strong
▼ + stars: | 2024-10-15 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Data on employment, inflation and economic growth have signaled that the "economy may not be slowing as much as desired," Waller said. A soft landing is the scenario in which inflation drops to the Fed's 2% target while economic growth and employment remain healthy. A "no landing," on the other hand, is when the economy continues expanding as inflation remains high.

Persons: Jefferies, Kelly Ortberg, Christopher Waller, Waller, Fed Governor Waller, Henry Allen, Ohsung Kwon, BofA, Kwon, –, Jeff Cox, Sarah Min, Lisa Kailai Han, Yun Li Organizations: Shoppers, Miami Design District, CNBC, Grand View Research, Boeing, P Global, U.S . Federal, Fed, Deutsche Bank, Bank of America Securities Locations: Miami , Florida, U.S

☆ Boeing factory strike crosses 1-month mark as pressure mounts on new CEO
▼ + stars: | 2024-10-14 | by ( Leslie Josephs | ) www.cnbc.com time to read: +6 min

There's no doubt about that," said Harry Katz, a professor who studies collective bargaining at Cornell University's School of Industrial and Labor Relations. Late Friday, Jon Holden, president of the striking workers' union, IAM District 751, pushed for a return to negotiations. However, unlike during the last Boeing factory strike in 2008, there is more contract work in the Seattle area to help workers fill the gaps. Slashing workforceA Boeing 737 MAX aircraft is assembled at the Boeing Renton Factory in Renton, Washington, on June 25, 2024. Boeing 737 fuselages on railcars at Spirit AeroSystems' factory in Wichita, Kansas, US, on Monday, July 1, 2024.

Persons: Stephen Brashear, It's, Boeing machinists, Kelly Ortberg, bookends, Max, wasn't, Harry Katz, Jon Holden, Ortberg, Jennifer Buchanan, hasn't, they're, Richard Aboulafia, Ron Epstein, Nick Oxford Organizations: Boeing, Getty, Cornell University's School of Industrial and Labor Relations, National Labor Relations Board, International Association of Machinists, Aerospace Workers, IAM, Boeing Renton Factory, AFP, of America, Bloomberg, & $ Locations: Renton , Washington, Seattle, Friday's, underperformance, Wichita , Kansas

☆ Emirates really isn't happy with Boeing — and will be having a 'serious conversation' about the latest 777X delay
▼ + stars: | 2024-10-14 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Emirates' president criticized Boeing over further delays to the 777X jet delivery. Emirates has ordered 262 of the 777X, making it the biggest customer of the much-delayed jet. AdvertisementThe president of Emirates, one of Boeing's biggest customers, has slammed the planemaker after it announced a further delay to its much-anticipated 777X jet. The Boeing 777X has revolutionary folding wingtips that are a first in commercial aviation. Related storiesSheikh Ahmed bin Saeed Al Maktoum, the Emirates CEO, previously said the 777X delays would force it to use existing jets for longer than planned, Reuters reported.

Persons: Tim Clark, —, Sir Tim Clark, Taylor Rains, Kelly Ortberg, Clark, Sheikh Ahmed bin Saeed Al Maktoum, Ortberg Organizations: Boeing, Emirates, Service, Business, Alaska Airlines, Boeing 777X, Reuters Locations: Seattle

☆ Why another delay of Boeing's new 777X plane is such a big deal
▼ + stars: | 2024-10-14 | by ( Taylor Rains | ) www.businessinsider.com time to read: +8 min

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 strike has cost company and workers $5 billion, new analysis shows
▼ + stars: | 2024-10-13 | by ( Vanessa Yurkevich | ) edition.cnn.com time to read: +4 min

CNN —Sunday marks one month since members of the International Association of Machinists began their strike against Boeing. The cost: nearly $5 billion, according to a new analysis by Anderson Economic Group, shared exclusively with CNN. Boeing’s workers and shareholders make up the bulk of the strike losses, at $3.7 billion, the new analysis shows. “Suppliers, Seattle-area businesses, and Boeing customers are paying part of the price,” said Patrick Anderson, CEO of Anderson Economic Group. Boeing’s customers — the airlines — are also feeling the financial pain, with $285 million in losses to Boeing customers worldwide.

Persons: ”, Patrick Anderson, Anderson, ” Kelly Ortberg, ” Stephanie Pope, Pope, “, John Holden, ” Holden Organizations: CNN, International Association of Machinists, Boeing, Anderson Economic Group, IAM, “ Suppliers, Anderson Economic, FAA, Department Locations: Everett , Washington, Seattle, Boeing Seattle

☆ Boeing to cut 17,000 jobs as losses deepen during factory strike
▼ + stars: | 2024-10-11 | by ( Leslie Josephs | ) www.nbcnews.com time to read: +1 min

Boeing will cut 10% of its workforce, or about 17,000 people, as the company’s losses mount and a machinist strike that has idled its aircraft factories enters its fifth week. Boeing expects to report a loss of an $9.97 a share in the third quarter, the company said in a surprise release on Friday. “Our business is in a difficult position, and it is hard to overstate the challenges we face together,” Ortberg said. He was tasked with restoring Boeing after safety and manufacturing crises, but the labor strike has been the biggest challenge yet for Ortberg. Tensions have been rising between the manufacturer and the union, and Boeing withdrew a contract offer earlier this week.

Persons: Kelly Ortberg, ” Ortberg, machinists Organizations: Boeing Locations: Ortberg

☆ Boeing to lay off roughly 10% of its workforce
▼ + stars: | 2024-10-11 | by ( Vanessa Yurkevich | Chris Isidore | ) edition.cnn.com time to read: +6 min

Union members are still angry that Boeing demanded they give up their traditional pension plans 10 years ago, when the company was doing well financially. Even with all of its problems, Boeing is likely at no risk of disappearing. If airlines that are Boeing customers cancel their order, they would have to wait five years for a comparable jet from Airbus. Boeing will discontinue that plane once its current orders are completed and delivered to customers in 2027. That plane is built by some of the union members now on strike.

Persons: “, ”, Kelly Ortberg, ” Ortberg, Max, Ortberg, Poor’s Organizations: New, New York CNN, Boeing, Alaska Airlines, National Transportation Safety Board, Space Station, International Association of Machinists, IAM, Airbus Locations: New York, United States, underperformance, Washington State

☆ 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

☆ 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

☆ 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

☆ 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

Former President Barack Obama will campaign for Vice President Kamala Harris in Pittsburgh next week, his first foray into the election as a battleground-state surrogate. The event, according to a senior Harris campaign official, will launch a larger effort by Obama, who intends to ramp up his campaigning for Harris in the final stretch of the election cycle. “President Obama believes the stakes of this election could not be more consequential and that is why he is doing everything he can to help elect Vice President Harris, Governor Walz and Democrats across the country,” Eric Schulz, a senior adviser to Obama, said in a statement. Harris and Obama’s relationship spans two decades, with the two first meeting as Obama was seeking election to the Senate in 2004. Grassroots fundraising content signed by Obama and events featuring him have generated more than $76 million for the campaign this cycle, a second senior Harris campaign official said.

Persons: Barack Obama, Kamala Harris, Harris, Obama, Governor Walz, ” Eric Schulz, Barack, Michelle Obama, we’ve, Tim Walz, ”, “ Michelle Obama, y’all —, ” Michelle Obama Organizations: Senate, ”, Democratic National Convention, NBC News, Grassroots, Obama Locations: Pittsburgh, “, United States, Angeles

WASHINGTON — The U.S. Secret Service recently notified Vice President Kamala Harris’ office about an incident involving one of its agents and a “misconduct allegation,” according to spokespeople for both the USSS and the vice president's office. “The U.S. Secret Service Office of Professional Responsibility is investigating a misconduct allegation involving an employee," an agency spokesperson said. "The Secret Service holds its personnel to the highest standards. "Senior OVP officials were alerted by the USSS about an incident involving an agent and informed that USSS initiated an investigation. The Office of the Vice President will not be releasing further information.”Real Clear Politics reported earlier on Wednesday that a Secret Service agent is accused of sexually assaulting a Harris staffer in Green Bay, Wisconsin.

Persons: WASHINGTON, Kamala Harris, Harris, ” Harris, USSS, groping Organizations: Secret Service, Service, Clear Politics, Secret, NBC News Locations: The, Green Bay , Wisconsin

The speech will tie together various themes of the Harris campaign, including her own biography and how it defines her economic vision. Harris plans to describe her economic vision as “pragmatic” and not “bound by ideology,” the official said. Not those who mop the floors,” Harris plans to say. “I’m going to be giving a speech this week that is really to outline my vision for the economy,” Harris told reporters Sunday. “According to our recent polling, Black voters’ economic priorities include reducing costs and increasing wealth.

Persons: Kamala Harris, Donald Trump’s, Harris, ”, Trump, Donald Trump, ” Harris, Joe Biden, It’s, “ I’m, you’ve, I’ve, “, ” Terrance Woodbury Organizations: PITTSBURGH, Democratic, NBC News, NBC, Biden, HIT, Black Locations: Pennsylvania, Michigan, Wisconsin, Nevada, Pittsburgh

☆ Another unforced error by Boeing is souring the new boss’ good vibes
▼ + stars: | 2024-09-25 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

Less than two months into his tenure as CEO, Ortberg has largely understood the assignment. See here: We’re nearly two weeks into a strike by Boeing’s largest labor union. Initially, Ortberg seemed to have buy-in from labor leaders, who publicly acknowledged that the new boss was walking into a conflict that predated him by 16 years. All of that gave the new boss, who spent his first day at work touring a factory floor, a kind of pro-labor halo. “This tactic is a blatant show of disrespect” to union members and the bargaining process, the International Association of Machinists wrote Monday.

Persons: CNN Business ’, Kelly Ortberg, Ortberg, ’, ”, International Association of Machinists, “, “ We’ve, Wheaton, ” Wheaton, ’ …, ” It’s, it’s, ” Ortberg, It’s, Richard Aboulafia, ” Aboulafia, what’s, …, CNN’s Chris Isidore Organizations: CNN Business, New York CNN, Boeing, machinists, International Association of, Cornell University’s School of Industrial and Labor Relations Locations: New York, what’s

The Secret Service is heightening security around former President Donald Trump, an agency official said Monday, following the apparent attempt on his life just two months after an assassination attempt at a campaign rally. “Given recent events, the Secret Service is taking a heightened posture in its protection of the former president,” the official said. The new measures appeared to be visible Monday when Trump got off his plane in Pennsylvania and a Secret Service agent followed closely behind. Federal prosecutors recently charged Ryan Wesley Routh, 58, in connection with an apparent assassination attempt on Trump on Sept. 15. Routh was charged a little more than two months after a gunman in Butler, Pennsylvania, shot Trump in the ear during a campaign rally.

Persons: Donald Trump, ”, Trump, Ryan Wesley Routh, Routh, Win McNamee, Butler Organizations: Service, Federal, Trump Locations: Pennsylvania, West Palm Beach , Florida, Florida, Sprankle's, Kittanning, Pa, Butler , Pennsylvania

☆ Boeing sweetens offer to union as strike enters second week
▼ + stars: | 2024-09-23 | by ( Leslie Josephs | ) www.nbcnews.com time to read: +2 min

The new offer raised pay, reinstated annual bonuses and increased a bonus that would be given upon the contract’s ratification, among other changes, Boeing said on its website. It also doubled the ratification bonus to $6,000, reinstated an annual machinist bonus and raised the company’s 401(k) match. The labor union, the International Association of Machinists and Aerospace Workers, didn’t immediately comment on the offer. Both Boeing and the union said they were disappointed with negotiations last week. The strike came as workers voted 94.6% against the previous proposal that the union had endorsed.

Persons: didn’t, group’s, Kelly Ortberg, Ron Epstein Organizations: Boeing, International Association of Machinists, Aerospace Workers, Bank of America, CNBC Locations: Renton , Washington, Seattle

☆ Boeing sweetens labor proposal in 'best and final' offer as strike enters second week
▼ + stars: | 2024-09-23 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

Boeing on Monday sweetened its contract offer and said it was its "best and final" proposal for its more than 30,000 machinists as their strike, which has halted most of the aerospace giant's aircraft production, entered its second week. Boeing's new offer would raise general wages by 30% over four years, up from a previously proposed 25%. It also doubled the ratification bonus to $6,000, reinstated an annual machinist bonus and raised the company's 401(k) match. The labor union, the International Association of Machinists and Aerospace Workers, didn't immediately comment on the offer. The strike came as workers voted 94.6% against the previous proposal that the union had endorsed.

Persons: didn't, group's, Kelly Ortberg, Ron Epstein Organizations: Boeing, International Association of Machinists, Aerospace Workers, Bank of America, CNBC Locations: Renton , Washington, Seattle

☆ Boeing machinists on picket lines prepare for lengthy strike: 'I can last as long as it takes'
▼ + stars: | 2024-09-21 | by ( Leslie Josephs | ) www.cnbc.com time to read: +7 min

Matt Mills Mcknight | ReutersRENTON, Wash. — Cash-strapped Boeing is facing mounting costs from an ongoing machinist strike as workers push for higher pay. The financial cost of the strike on Boeing depends on how long it lasts, though ratings agencies have warned that the company could face a downgrade if it drags on too long. Boeing 737 Max planes sit at the airport in Renton, Washington. Boeing Machinists union members count votes to accept or reject a proposed contract between Boeing and union leaders and whether or not to strike if the contract is rejected, at the Aerospace Machinists Union Hall in Seattle, Washington, on September 12, 2024. Boeing's most recent offer included 25% general wage increases over a four-year deal and was endorsed by the machinists union, the International Association of Machinists and Aerospace Workers District 751.

Persons: Matt Mills Mcknight, Cash, Boeing machinists, Boeing hasn't, Kelly Ortberg, Leslie Josephs, Louis, Jake Meyer, Meyer, Ron Epstein, Jason Redmond, today's, Ortberg, Biden, Pete Buttigieg, CNBC's Organizations: Boeing, Reuters, CNBC, Max, state's, Financial Management, Federal Reserve Bank of St, Bank of America, Aerospace Machinists, Hall, AFP, Getty, International Association of Machinists, Aerospace Workers, Workers Locations: Renton , Washington , U.S, Reuters RENTON, Wash, Seattle, Pacific Northwest, Renton , Washington, Renton, machinists, Washington, South Carolina, Seattle , Washington, Pacific, Oregon

☆ The executive in charge of the division that has 2 astronauts stuck in space is leaving Boeing
▼ + stars: | 2024-09-21 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +1 min

Ted Colbert, head of Boeing's defense, space, and security division, is leaving the company, per CNBC. Boeing CEO Kelly Ortberg announced Colbert's departure in a staff memo on Friday, CNBC reported. His departure comes amid production problems, budget overruns, and astronauts getting stuck in space. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementTed Colbert, the head of Boeing's defense, space, and security division is leaving the company after 15 years, CEO Kelly Ortberg told staff in a memo on Friday, according to CNBC.

Persons: Ted Colbert, Kelly Ortberg, —, Ortberg —, Colbert, Steve Parker Organizations: CNBC, Boeing, Service, Business

☆ Local police responsible for roof where Trump shooter hid at Butler rally had never spoken to Secret Service, report says
▼ + stars: | 2024-09-20 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | Julia Ainsley | ) www.nbcnews.com time to read: +3 min

The local police team responsible for the roof a shooter used to fire at ex-President Donald Trump on July 13 in Butler, Pennsylvania, had never spoken to the Secret Service prior to the attempted assassination, a report released by the Secret Service on Friday says. Among other errors, the report found that one local police entity working security at the Trump rally requested support from another local department without the Secret Service being aware. While investigating the incident, the Secret Service placed some officials, including the director of the Secret Service’s Pittsburgh Field Office, on leave. “The former president is getting everything that the current president has with respect to Secret Service assets,” Rowe said. Rowe also told reporters at a news conference Friday that the Secret Service did not deny security assets to the Trump campaign ahead of the July rally in Butler.

Persons: Donald Trump, Thomas Crooks, Trump, Butler, Jeff Swensen, Crooks, —, “, Ronald Rowe, Friday’s, ”, Rowe, ” Rowe, Kamala Harris Organizations: Trump, FBI, Inc, Secret Service, Service, Pittsburgh Field, Republican National Convention, Democratic National Convention, Secret, United Nations General Assembly Locations: Butler , Pennsylvania, Trump, Butler, Pa, West Palm Beach , Florida

☆ Boeing's defense unit chief Colbert is departing, CEO says
▼ + stars: | 2024-09-20 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

Former CEO for Boeing's defense, space and security subdivision Ted Colbert speaks during a press conference in Dubai on Nov. 16, 2019. The head of Boeing 's defense unit Ted Colbert is leaving the company effective immediately, said CEO Kelly Ortberg, marking his first major executive change since he took the top job in early August. Ortberg thanked Colbert for his 15 years of service at Boeing and said the unit's Chief Operating Officer Steve Parker would take over until the company names Colbert's replacement. Boeing's defense, space and security unit generated nearly 40% of Boeing's revenue in the first half of this year, but it has struggled with production problems and cost overruns, including on the new 747s that will serve as Air Force One aircraft. In the space sector, Boeing's Starliner is returning without the NASA astronauts who took it to the International Space Station in June.

Persons: Ted Colbert, Kelly Ortberg, Ortberg, Colbert, Steve Parker, Starliner Organizations: Boeing, Air Force One, NASA, International Space Station Locations: Dubai

☆ 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

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