Kelly Ortberg became CEO of Boeing in August 2024, taking the reins of a company in deep crisis following the 737 Max crashes, an FAA crackdown on manufacturing practices, and billions in losses at its defense and space division. He resolved a machinists strike in 53 days, raised $24.3 billion in fresh capital, and returned the defense division to profitability by winning the U.S. Air Force’s Sixth Generation fighter contract in March over Lockheed Martin. Under his leadership, monthly 737 Max production has increased from 38 to 42 aircraft with a target of 52 by end of 2026, and Boeing is forecasting $10 billion in free cash flow around 2028. Key remaining challenges include a new labor contract with 16,000 engineers expiring in October and the need to develop a new plane to compete with Airbus.
Source: Read the original article
