Latest news with #737Max9
NBC News
08-07-2025
- Business
- NBC News
Boeing delivers most airplanes since late 2023 after ramping up 737 Max output
Boeing delivered 60 airplanes last month, the most since December 2023, as the plane maker seeks to raise production of its bestselling 737 Max jets after a series of manufacturing and safety problems. The tally was the highest since before a door plug from one of its new 737 Max 9 planes blew out midair in January 2024, sparking a new crisis for the company and slowing production and deliveries of aircraft. Of the monthly total, 42 were 737 Maxes, going to customers including Southwest Airlines, Alaska Airlines and United Airlines. CEO Kelly Ortberg, who took the top job at Boeing last August, has said the company has made progress in improving production rates and quality on its factory lines. For the three months ended June 30, Boeing handed over 150 airplanes, its best second quarter since 2018, before two crashes of Max planes five months apart grounded the jets and sparked a multiyear crisis at the top U.S. exporter. That was also the last year Boeing posted an annual profit. Its problems also gave rival Airbus a bigger lead over Boeing. Boeing this spring had been producing about 38 Max aircraft a month and will need Federal Aviation Administration approval to go above that limit, which the agency set after the door plug accident. Ortberg said at a Bernstein investor conference in late May that he's confident that the company could increase production to 42 of the jets a month. The company booked 116 gross orders in June, or 70 net orders when including cancellations and accounting adjustments. Boeing often removes or adds orders to its backlog for a variety of reasons including customers' financial health. Boeing's backlog stood at 5,953 as of June 30. The manufacturer is set to report second-quarter financial results on July 29, when investors will be focused on Ortberg's plan to increase production and aircraft deliveries.
CNBC
08-07-2025
- Business
- CNBC
Boeing delivers most airplanes since late 2023 after ramping up 737 Max output
Boeing delivered 60 airplanes last month, the most since December 2023, as the plane maker seeks to raise production of its bestselling 737 Max jets after a series of manufacturing and safety problems. The tally was the highest since before a door plug from one of its new 737 Max 9 planes blew out midair in January 2024, sparking a new crisis for the company and slowing production and deliveries of aircraft. Of the monthly total, 42 were 737 Maxes, going to customers including Southwest Airlines, Alaska Airlines and United Airlines. CEO Kelly Ortberg, who took the top job at Boeing last August, has said the company has made progress in improving production rates and quality on its factory lines. For the three months ended June 30, Boeing handed over 150 airplanes, its best second quarter since 2018, before two crashes of Max planes five months apart grounded the jets and sparked a multiyear crisis at the top U.S. exporter. That was also the last year Boeing posted an annual profit. Its problems also gave rival Airbus a bigger lead over Boeing. Boeing this spring had been producing about 38 Max aircraft a month and will need Federal Aviation Administration approval to go above that limit, which the agency set after the door plug accident. Ortberg said at a Bernstein investor conference in late May that he's confident that the company could increase production to 42 of the jets a month. The company booked 116 gross orders in June, or 70 net orders when including cancellations and accounting adjustments. Boeing often removes or adds orders to its backlog for a variety of reasons including customers' financial health. Boeing's backlog stood at 5,953 as of June 30. The manufacturer is set to report second-quarter financial results on July 29, when investors will be focused on Ortberg's plan to increase production and aircraft deliveries.
The Independent
25-06-2025
- General
- The Independent
Another hit to Boeing as NTSB faults plane maker over infamous Alaska Airlines door debacle
Boeing suffered another reputational blow after the National Transportation Safety Board (NTSB) ruled that the company was at fault for a terrifying incident in January 2024, in which a 737 Max 9 lost its door plug panel six minutes after takeoff. Alaska Airlines Flight 1282 was en route from Portland, Oregon, to southern California 's Ontario International Airport with 171 passengers onboard and had reached 16,000 feet, halfway towards its cruising altitude, when a loud 'boom' was heard as the panel flew off. The plane was travelling at 400mph at the time of the accident, which caused the passengers phones and other personal belongings to be sucked from the cabin by a roaring vacuum of air, which was so strong that one man even had the shirt torn from his back. Seven passengers and a flight attendant were injured, but miraculously, no one was killed, and the pilots were ultimately able to safely land the plane back on the runway at Portland. Presenting the NTSB's final review of the case after 17 months of investigation, Chair Jennifer Homendy praised the cabin crew for saving the lives of all onboard but commented: 'The crew shouldn't have had to be heroes, because this accident never should have happened.' The NTSB's investigation concluded that four bolts securing the panel had been removed during maintenance work to replace damaged rivets and then not replaced. The NTSB blamed the company for the manufacturing and safety oversight, as well as the Federal Aviation Administration (FAA) for failing to spot the problem during a routine inspection. The NTSB stated that Boeing factory staff had informed its investigators that they frequently felt rushed in their work and were sometimes asked to perform tasks for which they were not qualified, including opening and closing door plugs on the model in question. In light of the Portland scare, Boeing and its collaborator, Spirit AeroSystems, have announced that they are redesigning the door panels on the 737 Max to ensure they remain sealed even without bolts. However, the FAA is not expected to approve the modification before next year, which is necessary to enable its wider rollout. The NTSB encouraged the regulator to waive through the fix as soon as it is safe to do so and acknowledged that the company and the regulator had since improved staff training protocols, praising Boeing's new CEO, Kelly Ortberg, for tightening safety standards since taking the job last summer. Many of the board's recommendations chime with those included in an earlier report issued by the Transportation Department's Inspector General last year, which the FAA has said it is already working to implement. Boeing stated in a press release: 'We at Boeing regret this accident and continue to work on strengthening safety and quality across our operations.' The FAA said in a statement of its own that it 'has fundamentally changed how it oversees Boeing since the Alaska Airlines door-plug accident and we will continue this aggressive oversight to ensure Boeing fixes its systemic production-quality issues. 'We are actively monitoring Boeing's performance and meet weekly with the company to review its progress and any challenges it's facing in implementing necessary changes.' The Max 737 has been the source of persistent troubles for Boeing since two of the jets crashed, one in Indonesia in 2018 and another in Ethiopia in 2019, killing 346 people in total. The company again made unwanted headlines earlier this month when one of its 787s, flown by Air India, crashed shortly after takeoff and killed at least 270 people. However, no technical faults have yet been found in the investigation into that tragedy, and the model involved has a much stronger safety record.
Straits Times
25-06-2025
- Business
- Straits Times
Boeing failed to provide training, oversight to prevent Max 9 mid-air emergency: US safety board
Boeing is working on a design enhancement that will ensure the door plug cannot be closed until it is firmly secured. PHOTO: REUTERS WASHINGTON - Boeing failed to provide adequate training, guidance and oversight to prevent a mid-air cabin panel blowout of a new 737 Max 9 flight in January 2024 that spun the planemaker into a major crisis, the National Transportation Safety Board (NTSB) said on June 24 . The board harshly criticised Boeing's safety culture and its failure to install four key bolts in a new Alaska Airlines Max 9 during production, as well as ineffective oversight by the Federal Aviation Administration (FAA). NTSB chair Jennifer Homendy said at a board meeting the incident was entirely avoidable because the planemaker should have addressed unauthorised production that was identified in numerous Boeing internal audits, reports and other forums for at least 10 years. 'The safety deficiencies that led to this accident should have been evident to Boeing and to the FAA,' Ms Homendy said. 'It's nothing short of a miracle that no one died or sustained serious physical injuries.' Boeing's on-the-job training was lacking, the NTSB said, adding the planemaker is working on a design enhancement that will ensure the door plug cannot be closed until it is firmly secured. The accident prompted the Justice Department to open a criminal investigation and declare that Boeing was not in compliance with a 2021 deferred prosecution agreement. Chief executive Dave Calhoun announced he would step down within a few months of the mid-air panel blowout. Ms Homendy praised new Boeing chief executive Kelly Ortberg but said 'he has his work cut out for him, a lot of challenges to address, and that's going to take time'. Boeing said it regretted the accident and it was continuing to work on strengthening safety and quality across its operations. The FAA said June 24 it has 'fundamentally changed how it oversees Boeing since the Alaska Airlines door-plug accident and we will continue this aggressive oversight to ensure Boeing fixes its systemic production-quality issues'. The incident badly damaged Boeing's reputation and led to a grounding of the Max 9 for two weeks and a production cap of 38 planes per month by the FAA that still remains in place. 'While Boeing is making progress, we will not lift the 737 monthly production cap until we are confident the company can maintain safety and quality while making more aircraft,' the FAA added. Boeing created no paperwork for the removal of the 737 Max 9 door plug - a piece of metal shaped like a door covering an unused emergency exit - or its re-installation during production, and still does not know which employees were involved, the NTSB said on June 24 . Then FAA administrator Michael Whitaker said in June 2024 the agency was 'too hands off' in Boeing oversight and it has boosted the number of inspectors at Boeing and Max fuselage manufacturer Spirit AeroSystems' factories. Boeing had agreed in July 2024 to plead guilty to a criminal fraud conspiracy charge after two fatal 737 Max crashes in Indonesia and Ethiopia. But in May, it struck a deal with the Justice Department to avoid a guilty plea. The Justice Department has asked a judge to approve the deal, which will allow Boeing to avoid pleading guilty or facing oversight by an outside monitor. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
CNBC
02-06-2025
- Business
- CNBC
Where we stand on Bullpen stock Boeing after its incredible 7-week run higher
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Markets: Stocks were mixed to start the week . The market on the first trading day in June stumbled around the open and traded lower in the absence of any real progress on trade talks between the U.S. and China, with both countries now accusing the other of violating their Geneva trade agreement announced on May 12. Industrials and other cyclicals also felt some pain in response to President Donald Trump doubling tariffs on steel imports to 50%. Underwhelming economic data, including construction spending and ISM manufacturing, also sparked some weakness. However, the market started to cut its losses shortly before 11 a.m. ET after a senior White House official told CNBC's Eamon Javers that Trump and Chinese President Xi Jinping were likely to speak later this week. This is the same storyline that helped the market recover Friday afternoon from a sell-off earlier in the session. A few key companies, including Club names Broadcom and CrowdStrike , are set to report quarterly results later this week. But overall, we're in a quiet stretch for earnings. As a result, the market will likely be driven more by economic data and trade-related headlines. That's not necessarily a bad thing, but it helps explain why the market is so fixated on every new development out of Washington. Update: Bullpen name Boeing was on the move Monday after analysts at Bank of America upgraded the stock to a buy rating, with a new high price target of $260 per share. That represents more than 25% upside to Friday's close. Shares rose over 2% on Monday. Boeing has had quite a run over the past seven weeks. We added shares of the jet maker to our Bullpen watch list on April 10, because we believed the company would be the No. 1 beneficiary of trade deals with other countries. This thesis quickly proved true. Shortly after the U.S. and the UK announced their trade deal in early May, British Airways' parent company, International Consolidated Airlines Group , IAG for short, announced an order of 32 Boeing Dreamliners in a deal valued at around $10 billion. Boeing later received a ton of orders during Trump's tour of the Mideast, including a record-breaking order of up to 210 aircraft from Qatar Airways. Boeing also got orders from airlines based in Saudi Arabia and the United Arab Emirates. BA YTD mountain Boeing YTD The trade war de-escalation, especially with China, has helped the stock, too. Boeing shares were trading around $210 per share on Monday, a level not seen since January 2024. At that time, the company was dealing with the immediate fallout from an incident in which a door plug on a 737 Max 9 blew out. It's easy to have regrets for not pulling the trigger on Boeing when we added it to the bullpen. Our thesis has played out just like we thought, and we would be enjoying this big move if we did. However, that doesn't mean the story is over, which is why we aren't removing it from the Bullpen. We continue to like the turnaround story here and the improvements to operations that CEO Kelly Ortberg has put in place. The trade deal angle is the cherry on top. We'll watch Boeing in the weeks and months ahead and look out for pullbacks in the stock because it could be one to buy in the event tariffs and trade wars re-escalate, causing the market to sell-off. Up next: There are no major earnings reports after Monday's closing bell. Dollar General , Signet Jewelers , and Chinese smart EV maker Nio are scheduled to report earnings before Tuesday's open. On Tuesday's economic calendar, it's data factory orders and durable goods orders data. The government also releases its Job Openings and Labor Turnover Survey, commonly referred to as JOLTS. It's the first of three reports on the job market , leading up to the Labor Department's monthly employment report. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
