Boeing’s President and Chief Executive Officer (CEO), Kelly Ortberg, announced to all employees the delay in the delivery of the 777X program.
The 777X program will delay the delivery of the first Boeing 777-9 aircraft to 2026 due to challenges encountered in development, a temporary suspension of flight tests, and continuous work stoppages.
Additionally, after fulfilling orders for the 767 freighter, production will cease in 2027. However, production of the KC-46A, a military aerial refueling and transport aircraft based on the Boeing 767, will continue. The company also plans to reduce its workforce by approximately 10% over the coming months.
“Our business is in a challenging situation, and the challenges we currently face together cannot be overstated. To not only survive the current environment but also to restructure the company for recovery, tough decisions are necessary. We must make structural changes to maintain our competitiveness and continue serving our customers in the long term,” stated President and CEO Ortberg, emphasizing the focus on core business areas.
The earnings for the third quarter of 2024 were also announced concurrently, with a revenue of 17.8 billion dollars and a loss of 9.97 dollars per share.
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