• New CEO will have to rebuild trust, reputation
    • Company posts another quarterly loss as it burns cash
    • Defense and space business adds to Q2 losses

July 31 (Reuters) - Boeing on Wednesday named aerospace industry veteran Kelly Ortberg as its new President and CEO after a months-long search, tasking the former Rockwell Collins executive with the monumental job of turning around the struggling planemaker.

Ortberg, 64, will start on Aug. 8 and face a multitude of issues, including reviving jet production and rebuilding trust with regulators, the industry and the flying public. Shares rose 2.9% before the bell.

Boeing, one of two global planemakers, has been mired in a reputational and safety crisis after a Jan. 5 mid-air panel blowout on an Alaska Airlines-operated MAX 9 jet carrying 171 passengers. It posted a $1.4 billion loss in the second quarter as it continues to burn cash.

  • Media Bias Fact CheckerB
    -8•1 month ago
    Reuters Media Bias Fact Check Credibility: [High] (Click to view Full Report)

    Reuters is rated with High Creditability by Media Bias Fact Check.

    Bias: Least Biased
    Factual Reporting: Very High
    Country: United Kingdom
    Full Report: https://mediabiasfactcheck.com/reuters/

    Check the bias and credibility of this article on Ground.News

    Thanks to Media Bias Fact Check for their access to the API.
    Please consider supporting them by donating.

    Footer

    Media Bias Fact Check is a fact-checking website that rates the bias and credibility of news sources. They are known for their comprehensive and detailed reports.

    Beep boop. This action was performed automatically. If you dont like me then please block me.💔
    If you have any questions or comments about me, you can make a post to LW Support lemmy community.