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SEATTLE/PARIS (Reuters) - Boeing Co is freezing new hiring and overtime except in certain critical areas in efforts to preserve cash due to the coronavirus outbreaks and the 737 MAX grounding ...
Prior to the pandemic, Boeing's business had been impacted by groundings of its 737 MAX aircraft. [65] By 7 April, Boeing had indefinitely suspended production at Boeing South Carolina and Puget Sound, Washington, completely halting the assembly of its commercial aircraft. [66] On 21 April, Boeing announced a management structure overhaul. [67]
Boeing's CEO said Monday that it will take years for the aircraft-building business to return to levels seen before the coronavirus pandemic, which has slowed air travel to a trickle and led ...
Boeing's problems have taken a heavy toll on its business. Where once it went toe to toe with its European rival Airbus , it has now delivered fewer aircraft in each of the past five years.
Qatar Airways also cancelled all of their Boeing 737 MAX orders as the airline's Italian subsidiary, Air Italy (which Qatar has 49% ownership in) announced that it will be entering liquidation and cease all operations due to the pandemic. Most of the now-cancelled Qatar Airways Boeing 737 MAX orders were intended to be delivered to Air Italy.
Boeing reported a minor bounce back in sales in February after orders ground essentially to a halt in January following the Alaska Airlines door plug incident.
WASHINGTON (Reuters) - Boeing is pausing hiring and taking sweeping steps to conserve cash after about 33,000 workers went on strike on Friday including considering temporary furloughs for many ...
Boeing reported on Tuesday an annual loss of $11.83 billion, its largest since 2020, as it grappled with problems at its commercial and defense units and the fallout from a crippling strike by U.S ...