Welcome to our dedicated page for Boeing news (Ticker: BA), a resource for investors and traders seeking the latest updates and insights on Boeing stock.
The Boeing Company develops, manufactures and services commercial airplanes, defense products and space systems. News for BA commonly centers on airline orders and deliveries for the 737 MAX and 787 Dreamliner families, commercial delivery volumes, backlog trends, and customer fleet modernization programs.
Company updates also cover Boeing defense and space work, including military aircraft programs such as the MQ-25A Stingray, as well as services and training products such as the Virtual Airplane pilot training platform. Earnings releases typically discuss segment performance across Commercial Airplanes, Defense, Space & Security, and Global Services.
Boeing [NYSE: BA] has announced that Kelly Ortberg will become the company's new president and CEO, effective August 8, 2024. Ortberg, 64, brings over 35 years of aerospace leadership experience and will succeed Dave Calhoun, who is retiring after serving as CEO since January 2020. The Boeing Board conducted an extensive search process to select Ortberg, citing his experience in leading complex engineering and manufacturing companies.
Ortberg's career includes leadership roles at Texas Instruments, Rockwell Collins, and RTX. He holds a bachelor's degree in mechanical engineering from the University of Iowa and has served on several industry boards, including the Aerospace Industries Association. Boeing, a leading global aerospace company, develops and manufactures commercial airplanes, defense products, and space systems for customers in over 150 countries.
Boeing reported second quarter 2024 results, with revenue of $16.9 billion, a GAAP loss per share of ($2.33), and core loss per share of ($2.90). Key highlights include:
- Submitted comprehensive safety and quality plan to FAA
- Announced agreement to acquire Spirit AeroSystems
- Operating cash flow of ($3.9) billion
- Total company backlog of $516 billion
- Commercial Airplanes delivered 92 airplanes
- Defense, Space & Security recorded $1.0 billion in losses on fixed-price programs
- Global Services revenue increased 3% to $4.9 billion
Boeing CEO Dave Calhoun stated the company is making progress on strengthening quality management and positioning for the future, despite a challenging quarter. The 737 program plans to increase production to 38 per month by year-end, while the 787 program aims to return to 5 per month.
Boeing [NYSE: BA] and Ryanair have entered a multi-year agreement to implement Boeing's Jeppesen FliteDeck Pro 5.0 electronic flight bag (EFB) solution across Ryanair's fleet of primarily 737s. This advanced tool aims to optimize flight operations, minimize disruptions, and enhance efficiency for Europe's largest airline group. The FliteDeck Pro will provide Ryanair with tailored route information, Smart Airport Maps for optimized taxi routes, reduced fuel consumption, and improved ground safety. Boeing's latest version includes enhanced pilot briefings, route planning, and traffic features, enabling real-time data and insights for better decision-making and flight operations.
Qatar Airways has expanded its Boeing 777X order book by placing an order for 20 additional 777-9 passenger jets, bringing its total 777X orders to nearly 100 airplanes. The airline now has 60 777-9 passenger airplanes and 34 777-8 Freighters on order. The 777-9, part of the 777X program, is designed to be the world's largest and most fuel-efficient twin-engine jet, with a capacity for 426 passengers in a typical two-class configuration and a range of 7,295 nautical miles. Boeing has begun certification flight testing for the 777-9, which promises enhanced passenger comfort with a spacious cabin, better humidity, and increased natural light.
Boeing [NYSE: BA] and Macquarie AirFinance have announced a significant deal where Macquarie AirFinance has placed its first direct order for 20 Boeing 737-8 MAX jets. This purchase doubles Macquarie's existing 737-8 order book, bringing their total firm aircraft orders to 86. The 737-8 MAX can carry up to 210 passengers with a range of 3,500 nautical miles, offering 20% reduction in fuel use and carbon emissions compared to older models.
This order aligns with Boeing's 2024 Market Outlook, which predicts that nearly half of airplane deliveries through 2043 will replace older jets, improving fuel efficiency and sustainability. Macquarie AirFinance, a leading aircraft leasing provider, currently has a portfolio of 236 aircraft leased to 85 airlines across 49 countries.
Boeing's 2024 Pilot and Technician Outlook (PTO) projects a significant demand for aviation personnel over the next 20 years. The industry will require nearly 2.4 million new professionals to support the growing commercial fleet and meet the long-term increase in air travel. This includes 674,000 pilots, 716,000 maintenance technicians, and 980,000 cabin crew members.
The demand is driven by aviation traffic trending above pre-pandemic levels, personnel attrition, and commercial fleet growth. Eurasia, China, and North America are expected to drive more than half of the new industry personnel demand. South Asia, Southeast Asia, and Africa are the fastest-growing regions, with staffing demand projected to more than triple over 20 years.
Boeing [NYSE: BA] and Lufthansa Technik have signed a license agreement designating Lufthansa Technik as the first Boeing-licensed Service Center (BLSC) for cabin modifications on 787 Dreamliner airplanes. This collaboration will provide additional choice and capacity for 787 owners and operators seeking interior modifications. As a BLSC, Lufthansa Technik can design new cabin interiors, provide engineering, and perform integration according to customer specifications. The agreement also covers certification of modification projects.
The cabin modifications will be performed at one of Lufthansa Technik's global network facilities, with the first project expected to start in 2025. This agreement follows Lufthansa Technik's completion of the first base maintenance event on a 787 Dreamliner in April at their Malta facility. The partnership aims to complement Boeing's existing 787 Interior Modifications offerings with additional market capacity.
Boeing [NYSE:BA] and Japan Airlines (JAL) have announced an agreement for up to 20 more 787 Dreamliners, including 10 firm orders for 787-9s and options for 10 more. This addition will complement JAL's existing fleet of over 50 Dreamliners. The 787-9 offers a range of up to 7,565 nautical miles, enabling JAL to open new routes and add flexibility to its network. JAL has previously used the 787 to establish new point-to-point markets from Tokyo to San Diego, Boston, and Bangalore.
The order underscores JAL's commitment to modernizing its fleet with fuel-efficient aircraft to reduce CO₂ emissions and enhance customer service. Since its introduction in 2011, the 787 family has opened more than 400 new nonstop routes globally and received over 1,900 orders from 87 customers.
Boeing [NYSE: BA] and Luxair have announced a new order for two 737-10 airplanes with options for two more. This follows Luxair's purchase of 737-7 and 737-8 models last year. The 737-10, the largest in the MAX family, offers the best economics of any single-aisle jet. Luxair CEO Gilles Feith stated that this investment supports the airline's growth plans and fleet decarbonization efforts.
The 737 MAX family reduces fuel use and carbon emissions by 20% compared to previous models. Luxair plans to configure its 737-10s to carry up to 213 passengers with a minimum 30-inch seat pitch, covering routes up to 5,740 km. This order will provide Luxair with increased flexibility in its fleet operations, allowing it to match aircraft size to market demand efficiently.
Boeing [NYSE: BA] and Korean Air have announced a significant deal for up to 50 widebody airplanes. The agreement includes 20 777-9s and 20 787-10s, with options for 10 additional 787-10s. This strategic move aims to support Korean Air's growth plans and fleet renewal, enhancing its capacity for high-demand routes to Europe and North America, as well as regional Asian routes.
The 777-9 can accommodate 426 passengers in a two-class configuration with a range of 13,500 km, while the 787-10 can carry up to 336 passengers with a range of 11,730 km. Both aircraft models offer significant improvements in fuel efficiency and reduced carbon emissions, aligning with Korean Air's commitment to sustainable aviation.