According to latest Boeing news reports, Boeing is reportedly planning a capital raise exceeding $15 billion. This initiative will involve a blend of stock issuance and convertible debt as the company seeks to strengthen its balance sheet amidst union strikes, financial losses and production setbacks.
According to latest Boeing Satellite news, the Boeing-manufactured Intelsat 33e satellite exploded after experiencing a technical malfunction or anomaly, on October 19, 2024. Efforts were made to work with Boeing to fix the issue, but the satellite was declared a total loss on October 21, 2024.
According to Boeing strike news, Boeing has agreed to a 35% pay raise spread over four years. After five weeks of intense labor disputes and halted production, a tentative agreement has finally been reached between Boeing and the International Association of Machinists union, which represents 33,000 striking workers.
As of the latest Boeing news, In an announcement on October 11, 2024, Boeing’s CEO Kelly Ortberg revealed that the company plans to lay off approximately 10% of its global workforce, impacting around 17,000 employees.
33,000 Boeing workers initiated a strike on September 13, 2024 after rejecting a contract offer that included wage increases and benefits. The machinists, who play an important role in the production of Boeing’s best-selling aircraft including the 737 Max, 777 and 767, voted in favor of the work stoppage, the company’s first major strike in 16 years.
Boeing has announced the appointment of Robert K. Kelly Ortberg as its new President and Chief Executive Officer succeeding Dave Calhoun, who is stepping down during regulatory scrutiny and financial challenges. Ortberg, a seasoned aerospace executive and former CEO of Rockwell Collins will assume his new role on August 8, 2024.
Boeing has agreed to plead guilty to a criminal fraud conspiracy charge following accusations of violating an agreement with the U.S. Department of Justice (DoJ). This decision is from the company’s failure to adhere to mandated reforms after the fatal crashes of its 737 MAX aircraft in 2018 and 2019, which resulted in the loss of 346 lives.
