Boeing HQ
Today’s key stories focus on Boeing’s upcoming spaceflight and the impact of Boeing’s problems on airlines. During this earnings season, Boeing’s customers are taking potshots at the company, including Robert Isom of American and Southwest, which can’t get airplanes of the right size to maintain operations at multiple airports.
Despite a goal to the contrary, Moody’s and S&P have downgraded Boeing, Airbus continues to win orders, and organizations have dropped Boeing, and confidence in the company has been lost. In the meantime, a decision on criminal prosecution since Boeing breached the deferred prosecution agreement with the Department of Justice is expected in early June. Finally, the GE training facility, made famous for exporting Jack Welch’s focus on shareholder value to other companies, notably Boeing, is being dismantled.
- NASA astronauts arrive for Boeing’s first human spaceflight – Yahoo
- Southwest pulling out of four airports due to first quarter loss, Boeing problems – NTD
- Southwest Airlines 1Q24 earnings and Boeing Costs – AirInsight
- Airbus lifts A350 rate, highlighting edge over Boeing – BNN Bloomberg
- Boeing now has a ‘negative’ outlook from both Moody’s and S&P Global – Quartz
- American Airlines CEO praises Embraer and raps Boeing – Forbes
- Boeing used to be a symbol of Up Wing America. No Longer – AEI
- Boeing prosecutors aim to decide criminal charge by early June – Daily Breeze
- Jack Welch’s CEO factory has stopped production: Good riddance – Mint
The Bottom Line
Confidence in Boeing did not grow after their earnings call, and airline CEOs are taking pot shots at Boeing leadership in their own comments. Combined with the ‘negative outlook’ from Moody’s and S&P and dropping Boeing from Up Wing America, this indicates Boeing’s precipitous fall in public opinion. The company is facing a long upward journey back to prominence.
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