Boeing faced significant challenges in 2024, reporting losses totaling $11.8 billion, the largest since 2020. The company attributed these losses to various issues including a safety crisis, quality concerns, and a disruptive strike. In the last quarter of the year, Boeing's losses amounted to $3.8 billion, largely impacted by ongoing labor strikes.
In response to the setbacks, Chief Executive Kelly Ortberg emphasized the necessity of implementing "fundamental changes" to rejuvenate the company's financial standing and regain consumer confidence. The year was marked by incidents exemplifying Boeing's quality control deficiencies, such as a door panel detachment on a 737 Max plane.
Boeing's efforts to recover were hindered by a strike involving 33,000 workers, leading to a halt in production and significant financial losses. The company responded by downsizing its workforce by 10% and raising capital through various means. Additionally, the launch of the 777X was postponed, with delivery to passengers now postponed until 2026.
Despite these setbacks, Boeing remains resolute under Ortberg's leadership, striving to strengthen operational stability, enhance safety protocols, and rebuild trust with stakeholders.