Boeing's new CEO vows to make it 'iconic' again after posting $6.1 billion loss in his 1st earnings

• Boeing reported a third-quarter nonaccomplishment of $6.1 cardinal connected Wednesday.
• Its newly-installed CEO Kelly Ortberg said it will "take clip to return Boeing to its erstwhile legacy."
• Union members, who person been connected onslaught for 40 days, will ballot connected a statement connection later successful nan day.

Boeing reported a nett nonaccomplishment of $6.1 cardinal successful nan 3rd 4th of 2024, arsenic it grapples pinch constricted production, a machinist strike, and customer frustrations.

Wednesday's net study compared pinch a nonaccomplishment of $1.44 cardinal successful nan erstwhile quarter. While gross accrued 5.8% to $17.84 billion, it was still somewhat little than analyst's expectations.

A halfway nonaccomplishment per stock of $10.44 was akin to Wall Street predictions.

"It will return clip to return Boeing to its erstwhile legacy, but pinch nan correct attraction and culture, we tin beryllium an iconic institution and aerospace leader erstwhile again," said Boeing CEO Kelly Ortberg.

"Going forward, we will beryllium focused connected fundamentally changing nan culture, stabilizing nan business, and improving programme execution, while mounting nan instauration for nan early of Boeing," he added.

The large losses travel astatine a turbulent play for nan planemaker. Its banal is down 36% since nan commencement of nan year.

Ortberg took complete successful August aft his predecessor, Dave Calhoun, near amid customers' frustrations successful nan aftermath of January's Alaska Airlines blowout.

He has had to contend pinch supply-chain constraints, certification delays, a struggling abstraction division, and nan onslaught during his 2 months successful charge.

Striking workers group to ballot connected caller offer

Later connected Wednesday, immoderate 33,000 national members who person been connected onslaught for 40 days are group to vote connected nan company's 3rd statement offer.

It could put an extremity to nan tense business estimated to person costs Boeing complete $5 billion, according to an study from Anderson Economic Group shared pinch CNN.

Bank of America analysts said successful a Sunday study they're optimistic astir national members voting to extremity nan strike, because nan acting Labor Secretary, Julie Su, mediated negotiations.

Earlier this month, Boeing announced plans to laic disconnected 10% of its workforce — around 17,000 group — plus a further hold to its much-anticipated 777X program.

Sir Tim Clark, nan president of Emirates — nan largest 777X customer — subsequently criticized Boeing and said they would person "a superior conversation."

Days aft nan layoff announcement, Boeing said successful regulatory filings that it had entered a $10 cardinal in installments agreement pinch 4 awesome banks, and said it whitethorn waste up to $25 cardinal successful securities.

"These are 2 prudent steps to support nan company's entree to liquidity," Boeing said successful a statement.