Boeing’s got serious problems. The solution has baffled everyone
It took decades for Boeing to build a reputation as one of the most reliable companies on the planet. It’s taken less than six years to undo it all and leave the once-great American company facing an uncertain future. Regulators, airlines, fliers and even Boeing’s own workers are practically in revolt after a series of mid-flight disasters and a steady erosion of the company’s quality standards. Investors are none too thrilled, either: Boeing’s stock (BA) is down 27% for the year, making it the second-worst performer in the S&P 500, behind Tesla. The latest headache for Boeing came Monday, when a 787 Dreamliner flying from Australia to New Zealand plunged suddenly mid-flight, injuring several passengers. It’s not clear what, if any, culpability Boeing has here — it said it’s gathering information about what went wrong. But the accounts from passengers are hardly flattering at a moment when Boeing is already under federal investigation for the Jan. 5 door-plug blowout. For any other company, now would be the time to call the lawyers and start working on a sale or a bankruptcy. Within the past six years, Boeing has been found responsible for two fatal crashes that killed 346 people, lost tens of billions of dollars, paid billions more in fines and settlements, and it made headlines for repeated quality control problems. But Boeing is not any other company. And it barely even has regulators to stand up to. The FAA is so underfunded that it has partially relied on Boeing to self-regulate. It’s a wonder that the agency found this week that Boeing failed half of its audit of its production facility. (The FAA has instructed the plane maker to submit a plan to fix its production problems by late May.) Boeing, in a statement, said it is working diligently to work out the issues highlighted by the FAA.n“Based on the FAA audit, our quality stand downs and the recent expert panel report, we continue to implement immediate changes and develop a comprehensive action plan to strengthen safety and quality, and build the confidence of our customers and their passengers,” Boeing said in a statement. “We are squarely focused on taking significant, demonstrated action with transparency at every turn.” Story has more.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2024-03-15/general/boeing2019s-got-serious-problems-the-solution-has-baffled-everyone
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Boeing’s got serious problems. The solution has baffled everyone
It took decades for Boeing to build a reputation as one of the most reliable companies on the planet. It’s taken less than six years to undo it all and leave the once-great American company facing an uncertain future. Regulators, airlines, fliers and even Boeing’s own workers are practically in revolt after a series of mid-flight disasters and a steady erosion of the company’s quality standards. Investors are none too thrilled, either: Boeing’s stock (BA) is down 27% for the year, making it the second-worst performer in the S&P 500, behind Tesla. The latest headache for Boeing came Monday, when a 787 Dreamliner flying from Australia to New Zealand plunged suddenly mid-flight, injuring several passengers. It’s not clear what, if any, culpability Boeing has here — it said it’s gathering information about what went wrong. But the accounts from passengers are hardly flattering at a moment when Boeing is already under federal investigation for the Jan. 5 door-plug blowout. For any other company, now would be the time to call the lawyers and start working on a sale or a bankruptcy. Within the past six years, Boeing has been found responsible for two fatal crashes that killed 346 people, lost tens of billions of dollars, paid billions more in fines and settlements, and it made headlines for repeated quality control problems. But Boeing is not any other company. And it barely even has regulators to stand up to. The FAA is so underfunded that it has partially relied on Boeing to self-regulate. It’s a wonder that the agency found this week that Boeing failed half of its audit of its production facility. (The FAA has instructed the plane maker to submit a plan to fix its production problems by late May.) Boeing, in a statement, said it is working diligently to work out the issues highlighted by the FAA.n“Based on the FAA audit, our quality stand downs and the recent expert panel report, we continue to implement immediate changes and develop a comprehensive action plan to strengthen safety and quality, and build the confidence of our customers and their passengers,” Boeing said in a statement. “We are squarely focused on taking significant, demonstrated action with transparency at every turn.” Story has more.<br/>
