Boeing posted results showing it had $7.5 billion in cash and short-term securities, down from $16 billion at the start of the year
Ryanair expects Boeing to take 12 to 18 months to eliminate backlogs in its aircraft deliveries, group chief executive Michael O’Leary said in London on Wednesday, reinforcing a call for more quality oversight.
Boeing expects a slower increase in its production rate and deliveries as it faces scrutiny over quality control since a January mid-air panel blowout on a near-new 737 MAX 9.Mr O’Leary said “quality control does need to be improved” and that management at Boeing needed to focus on continuity as it seeks to stabilise its business.
Boeing has come under increasing scrutiny from lawmakers, airlines and regulators following a near-catastrophic blowout of a fuselage panel on a 737 Max 9 during flight in early January. The carrier had previously blamed Boeing’s delivery delays for slowing growth in 2024, and cut its annual passenger forecast and flight frequencies across the network as a result.
“The best CEOs and owners are the accountants, the people who do the boring, repetitive day-to-day delivery, and that’s what you need,” said Mr O’Leary. “It’s like, never put a pilot in charge of an airline.” “Near term, yes, we are in a tough moment,” he said in the memo. “Lower deliveries can be difficult for our customers and for our financials. But safety and quality must and will come above all else.”
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