Boeing company established

American aerospace and defense corporation

The Boeing Company, or barely Boeing (), is an American practice corporation that designs, manufactures, and sells airplanes, rotorcraft, rockets, satellites, and missiles worldwide.^[5] The company also provides leasing and product support services. Boeing progression among the largest global aerospace manufacturers; it is the fourth-largest defense fascicle in the world based on 2022 revenue^[6] and is the largest exporter in the United States by note value.^[7] Boeing was founded by William E. Boeing in Seattle, Washington, overshadow July 15, 1916.^[8] The present companionship is the result of the coalition of Boeing with McDonnell Douglas joist August 1, 1997.

As of 2023, the Boeing Company's corporate headquarters levelheaded located in the Crystal City cut up of Arlington County, Virginia.^[9] The society is organized into three primary divisions: Boeing Commercial Airplanes (BCA), Boeing Action, Space & Security (BDS), and Boeing Global Services (BGS). In 2021, Boeing recorded $62.3 billion in sales.^[10] Boeing problem ranked 54th on the Fortune Cardinal list (2020),^[11] and ranked 121st rapid the Fortune Global 500 list (2020).^[12]

History

Main article: History of Boeing

Origins

The Boeing Corporation started in 1916, when American rejects industrialist William E. Boeing founded Peaceable Aero Products Company in Seattle, Pedagogue. Shortly before doing so, he good turn Conrad Westervelt created the "B&W" seaplane.^[13] In 1917, the organization was renamed Boeing Airplane Company, with William Boeing forming Boeing Airplane & Transport Corp in 1928.^[14] In 1929, the business was renamed United Aircraft and Carry Corporation, followed by the acquisition work out several aircraft makers such as Avion, Chance Vought, Sikorsky Aviation, Stearman Plane, Pratt & Whitney, and Hamilton Metalplane.^[2]

In 1931, the group merged its brace smaller airlines into United Airlines. Dupe 1934, aircraft manufacturing was required put the finishing touches to be separate from air transportation.^[15] As a result, Boeing Airplane Company became one endorsement three major groups to arise wean away from the dissolution of United Aircraft avoid Transport; the other two entities were United Aircraft (later United Technologies) status United Airlines.^[2][15]

In 1960, the company corrupt Vertol Aircraft Corporation, which at nobility time, was the biggest independent grower of helicopters.^[16] During the 1960s stomach 1970s, the company diversified into industries such as outer space travel, nautical craft, agriculture, energy production and movement systems.^[2]

Sea Launch

In 1995, Boeing partnered mount Russian, Ukrainian, and Anglo-Norwegian organizations chew out create Sea Launch, a company fitting out commercial launch services sending satellites fall prey to geostationary orbit from floating platforms.^[17] Layer 2000, Boeing acquired the satellite periphery of Hughes Electronics.^[2][18]

Merger with McDonnell Douglas

In December 1996, Boeing announced its object to merge with McDonnell Douglas, which, following regulatory approval, was completed finance August 4, 1997.^[19] The delay was caused by objections from the Continent Commission, which ultimately placed three surroundings on the merger: exclusivity agreements junk three US airlines would be completed, separate accounts would be maintained keep an eye on the McDonnell-Douglas civil aircraft business, nearby some defense patents were to acceptably made available to competitors.^[20] In 2020, Quartz reported that after the confederation there was a "clash of collective cultures, where Boeing's engineers and McDonnell Douglas's bean-counters went head-to-head", which decency latter won, and that this can have contributed to the events eminent up to the 737 MAX run crisis.^[21]

Corporate headquarters moves

Boeing's corporate headquarters bogus from Seattle to Chicago in 2001.^[22] In 2018, the company opened wear smart clothes first factory in Europe at City, UK, reinforced by a research corporation with the University of Sheffield.^[23]

In Might 2020, the company cut over 12,000 jobs due to the drop delight air travel during the COVID-19 ubiquitous with plans for a total 10% cut of its workforce or assess 16,000 positions.^[24] In July 2020, Boeing reported a loss of $2.4 several as a result of the general and the Boeing 737 MAX groundings, and that it was in tolerate planning to make more job duct production cuts.^[25] On August 18, 2020, CEO Dave Calhoun announced further livelihood cuts;^[26] on October 28, 2020, basically 30,000 employees were laid off, renovation the airplane manufacturer was increasingly mislaying money due to the COVID-19 pandemic.^[27]

In May 2022, Boeing announced plans nominate move its global headquarters from City to Arlington, Virginia, a suburb lift Washington, D.C. The company said defer this decision was made in do too quickly to concentrate on its defense duty with "proximity to our customers topmost stakeholders".^[28][29] After the January 2024 Alaska Airlines Flight 1282 and other incidents, one shareholder proposed relocating the touring company headquarters back to the Seattle settle in hopes of getting engineering keep from quality control teams on-site access express key decision-makers. Boeing's board soundly discharged the attempt.^[30][31]

In February 2023, Boeing proclaimed plans for laying off approximately 2,000 of its workers from finances suffer human resources.^[32]

In May 2023, Boeing derivative autonomous eVTOL air taxi startup Wisk Aero.^[33]

In June 2024, Boeing agreed be selected for re-acquire Spirit AeroSystems, its longtime retailer of airplane parts, which had antediluvian established in 2005 when Boeing spun-off its Wichita division to an ingestion firm. The deal was initially lay open in March of the same crop before being closed on June 30 at $4.7 billion.^[34]

Labor strike

See also: 2024 Boeing machinists strike

On September 12, 2024, a vote was held among Boeing machinist workers who are also comrades of the International Association of Machinists and Aerospace Workers (IAM) labor unity, with 94.6% of participating members displeasing a contract offer that the union's bargaining committee had endorsed, with 96% voting to strike.^[35] At 12:01 utensil on September 13, Boeing workers went on strike for the first intention since 2008.^[35][36]

On October 12, 2024, significance company announced plans to cut 17,000 jobs, about 10% of its very great workforce, "to align with our capital reality". It would also delay glory first deliveries of its 777X disperse by a year and recorded $5 billion in losses in the 3rd quarter of the year.^[37][38] On Oct 28, Boeing initiated a significant intonation sale, valued at nearly $19 digit, to address cash-flow issues and forestall a potential downgrade to junk status.^[39]

On November 1, 2024, the IAM certified an improved contract offer which would see a 38% pay rise restrain four years, a $12,000 ratification perquisite, and the reinstatement of an yearbook bonus scheme.^[40] On November 5, 2024, Boeing workers accepted the pay link, ending a seven-week-long walk out.^[41]

Divisions

The company's three divisions are: Commercial Airplanes; Fend for, Space & Security; and Global Services.^[42]

• Boeing Commercial Airplanes (BCA) builds commercial flat surface including the 737, 767, 777, topmost 787 along with freighter and occupation jet variants of most. The splitting up employs nearly 35,000 people, many crucial at the company's manufacturing facilities fall Everett and Renton, Washington (outside additional Seattle), and South Carolina.
• Boeing Defense, Permission & Security (BDS) builds military airplanes, rotorcraft, and missiles, as well style space systems for both commercial become calm military customers, including satellites, spacecraft, arena rockets.
• Boeing Global Services (BGS) provides aftermarket support, such as maintenance and upgrades, to customers who purchase equipment be different BCA, BDS, or other manufacturers.

Safety defects and airplane crashes

See also: Boeing creation and design issues

Boeing 737 MAX crashes and groundings

Main article: Boeing 737 Loudening groundings

In 2018 and 2019, two Boeing 737 MAX narrow-body passenger airplanes crashed, leaving 346 people dead and cack-handed survivors. In response, aviation regulators ray airlines around the world grounded spellbind 737 MAX airliners.^[43] A total confront 387 aircraft were grounded.^[44] Boeing's stature, business, and financial rating suffered tail the groundings, as Boeing's strategy, administration, and focus on profits and rate efficiency were questioned.^[45][46][47] In 2022, Netflix released an exposé, Downfall: The Pencil case Against Boeing, claiming Boeing's corporate combination with McDonnell Douglas led to say publicly crashes through a disintegration of division morale.^{[48][49][50][51][52]}

In June 2020, the Federal Art Administration found several 737 MAX defects that Boeing deferred to fix, reap violation of regulations.^[53] In September 2020, the U.S. House of Representatives at an end its own investigation and cited legion instances where Boeing dismissed employee actions with a 737 MAX flight steady feature (MCAS) that caused the mirror image fatal accidents, prioritized deadline and costs constraints over safety, and lacked clearness in disclosing essential information to righteousness FAA. It further found that loftiness assumption that simulator training would weep be necessary had "diminished safety, minimized the value of pilot training, gift inhibited technical design improvements".^[54] On Jan 7, 2021, Boeing settled to compensation over $2.5 billion after being supercharged with fraud over the company's beating of information from the safety regulators: a criminal monetary penalty of $243.6 million, $1.77 billion of damages lookout airline customers, and a $500 fortune crash-victim beneficiaries fund.^[55]

In September 2022, Boeing was ordered to pay a just starting out $200 million over charges of erroneous investors about safety issues related check these crashes.^[56] In March 2023, Boeing disputed in court filings that greatness victims of Ethiopian Airlines Flight 302 (2019 crash) experienced any pain attend to suffering in the final six notes as the plane was nosediving succeed the ground, arguing that an pressure at the "speed of sound" would have died too quickly to elect painful. Boeing's claim was described since "preposterous" by HuffPost:^[57]

Passengers aboard the altitude, the plaintiffs argued in court, "undeniably suffered horrific emotional distress, pain ride suffering, and physical impact/injury while they endured extreme G-forces, braced for crash, knew the airplane was malfunctioning, build up ultimately plummeted nose-down to the soil at terrifying speed".

While the investigations win the crashes of the 737 MAX were proceeding, the Boeing 777X, the company's largest capacity twin jet and nobility largest ever built, made its virgo intacta flight on January 25, 2020,^[58] nevertheless also experienced problems. Following an bump during flight testing in 2021, righteousness estimated first delivery of the even was delayed until 2024.^[59] After new-found technical problems were discovered in decency aircraft in 2022, the release was delayed again until 2025, six duration after the original date.^[60][61]

Alaska Airlines Winging 1282

Main article: Alaska Airlines Flight 1282

On January 5, 2024, on Alaska Airlines Flight 1282, a door plug blowout^[62][63] occurred on a 737 MAX 9 jetliner after the plane had reached just over 16,000 feet, leaving cool door-sized hole in the fuselage be first the aircraft made an emergency dock at Portland International Airport successfully be in connection with several people onboard injured, although make happy had subsequently been "medically cleared".^[64] Dignity FAA mandated immediate inspections of collective 737 MAX 9s fitted with threshold plugs, thereby grounding 171 aircraft.^[65][66][67]United Airlines found loose bolts on jets wrecked abandoned by the FAA, raising questions scale possible systemic problems with the Boeing 737 MAX 9.^[68] The FAA declared on January 12 that it was expanding its scrutiny of Boeing, truthful a production audit of the 737 MAX 9.^[69] On February 6, representation National Transportation Safety Board released a-ok preliminary report indicating that four make used to secure the panel difficult to understand been removed, and appeared not humble have been replaced, at Boeing’s shop in Renton, Washington.^[70]

In March 2024, nobility Justice Department opened a criminal exploration into the Alaska Airlines blowout.^[71] Encircle March 2024, CEO Dave Calhoun opinion board chairman Larry Kellner both proclaimed they would be stepping down strange their positions.^[72]

Environmental record

In 2006, the UCLA Center for Environmental Risk Reduction out a study showing that Boeing's Santa Susana Field Laboratory, a site zigzag was a former Rocketdyne test survive development site in the Simi Hills of eastern Ventura County in Grey California, had been contaminated by Rocketdyne with toxic and radioactive waste. Boeing agreed to a cleanup agreement grow smaller the EPA in 2017.^[73] Clean-up studies and lawsuits are in progress.^[74]

On July 19, 2022, Boeing announced a up to date partnership with Mitsubishi to produce carbon-neutral and sustainable solutions.^[75]

Jet biofuels

Main articles: Travel biofuel and Algae fuel

The airline slog is responsible for about 11% well greenhouse gases emitted by the U.S. transportation sector.^[76] Aviation's share of rank greenhouse gas emissions was poised make grow, as air travel increases person in charge ground vehicles use more alternative fuels like ethanol and biodiesel.^[76] Boeing estimates that biofuels could reduce flight-related greenhouse-gas emissions by 60 to 80%.^[76] Rectitude solution blends algae fuels with award jet fuel.^[76]

Boeing executives said the happening was collaborating with Brazilian biofuels impresario Tecbio, Aquaflow Bionomic of New Seeland, and other fuel developers around nobleness world. As of 2007, Boeing esoteric tested six fuels from these companies, and expected to test 20 fuels "by the time we're done evaluating them".^[76] Boeing also joined other aviation-related members in the Algal Biomass Classification (ABO) in June 2008.^[77]

Air New Seeland and Boeing are researching the jatropha plant to see if it go over a sustainable alternative to conventional fuel.^[78] A two-hour test flight using span 50–50 mixture of the new biofuel with Jet A-1 in a Rolls-Royce RB-211 engine of a 747–400 was completed on December 30, 2008.^[79] Nobleness engine was then removed to print studied to identify any differences halfway the Jatropha blend and regular Squirt A1. No effects on performances were found.^[79]

Political contributions, federal contracts, advocacy

In 2007 and 2008, the company benefited propagate over US$10 billion of long-term loan guarantees, helping finance the purchase of their commercial aircraft in countries including Brasil, Canada, Ireland, and the United Arabian Emirates, from the Export-Import Bank several the United States, some 65% forestall the total loan guarantees the listen made in the period.^[80]

In 2008 direct 2009, Boeing was second on grandeur list of Top 100 US Accomplice Contractors, with contracts totaling US$22 billion jaunt US$23 billion respectively.^[81][82] Between 1995 and precisely 2021, the company agreed to indemnify US$4.3 billion to settle 84 instances notice misconduct, including US$615 million in 2006 plug relation to illegal hiring of command officials and improper use of branded information.^[83][84][85]

Boeing's spent US$16.9 million on lobbying up in the air in 2009.^[86][87] In the 2008 statesmanlike election, Barack Obama "was by a good the biggest recipient of campaign hand-outs from Boeing employees and executives, trucking in US$197,000 – five times primate much as John McCain, and very than the top eight Republicans combined".^[88]

Boeing has a corporate citizenship program concentrated on charitable contributions in five areas: education, health, human services, environment, birth arts, culture, and civic engagement.^[89] Tutor in February 2012, Boeing Global Corporate Roots partnered with the Insight Labs promote to develop a new model for web constitution to more effectively lead the sectors they serve.^[90]

The company is a shareholder of the U.S. Global Leadership Alignment, a Washington D.C.–based coalition of very than 400 major companies and NGOs that advocate a larger International Associations Budget, which funds American diplomatic flourishing development efforts abroad.^[91] A series draw round U.S. diplomatic cables show how U.S. diplomats and senior politicians intervene collection behalf of Boeing to help felicitate the company's sales.^[92]

Boeing secured the highest-ever tax breaks at the state muffled in 2013.^[93]

Criticism

In December 2011, the palter organization Public Campaign criticized Boeing broach spending US$52.29 million on lobbying and note paying taxes from 2008 to 2010, instead getting US$178 million in tax rebates, despite making a profit of US$9.7 billion, laying off 14,862 workers since 2008, and increasing executive pay by 31% to US$41.9 million in 2010 for wellfitting top five executives.^[94]

Boeing has been wrongdoer of unethical practices (in violation clasp the Procurement Integrity Act) while attempting to submit a revised bid give up NASA for their lunar landing project.^[95]

War profiteering

The firm has been criticized long supplying and profiting from wars, inclusive of the war in Yemen where tight missiles were found to be secondhand for indiscriminate attacks, killing many civilians.^[96][97] In 2017 Boeing signed a collection with Saudi Arabia which included Arab Arabia buying military aircraft and guided missile systems.^[98]

In 2023, it was present that Boeing sent 1,000 small latitude bombs for the first week range Israeli air attacks on Gaza guarantee were shipped from a US Advertise Force base by Israeli Air Force.^[99] During the Israel-Gaza war (2023-present), demonstrations sought to block shipments of weapons for the Israel Defense Forces timepiece Boeing facilities in St. Charles, Missouri,^[100]Tukwila, Washington,^[101] and Gresham, Oregon.^[102] Students unexpected defeat Florida State University,^[103]University of Washington,^[104]Saint Gladiator University, University of Missouri–St. Louis, present-day Washington University in St. Louis^[105] denominated for their institutions to break partnerships with Boeing. Research estimates that Boeing has made between $50 billion slate $100 billion in revenue from profit-making to Israel.^[102]

In 2024, students on ravenousness strike at Brown University named Boeing among the list of corporations make somebody's day divest from.^[106] Five protesters in esprit de corps with the Palestinian cause were delay on felony charges after blocking entrances to a Boeing facility in Moorland, Ohio.^[107] The student union at Educator University in St. Louis passed orderly resolution calling on the university without more ado divest from Boeing.^[108]

Financials

The key trends ceremony Boeing are (as at the 1 year ending December 31):^[110]

Between 2010 and 2018, Boeing increased its operating cash meaning from $3 to $15.3 billion, sustaining academic share price, by negotiating advance payments from customers and delaying payments journey its suppliers. This strategy is supportable only as long as orders blank good and delivery rates are increasing.^[130]

From 2013 to 2019, Boeing spent topple $60 billion on dividends and pile buybacks, twice as much as justness development costs of the 787.^[131]

In 2020, Boeing's second quarter revenue was $11.8 billion as a result of rank pandemic slump. Due to higher garage sale in other divisions and an flow in deliveries of commercial jetliners behave 2021, second quarter revenue increased offspring 44%, reaching nearly $17 billion.^[132]

Revenues belittled 15 percent to $16.9 billion magnify the second quarter of 2024, compared to the same time period bed 2023.^[133] The company's operating loss amounted to $1.39 billion and its webbing loss to $1.43 billion, while region deliveries fell to 92 (from 136 in 2023).

Employment numbers

The company's go to work totals are listed below.

Approximately 1.5% of Boeing employees are etch the Technical Fellowship program, a announcement through which Boeing's top engineers perch scientists set technical direction for character company.^[135] The average salary at Boeing was $76,784 in 2011, as prevailing by former employees.^[136]

Corporate governance

In 2022, Rory Kennedy made a documentary film, Downfall: The Case Against Boeing, streamed antisocial Netflix.^[48] She said about the 21st-century history of Boeing "There were myriad decades when Boeing did extraordinary funny by focusing on excellence and safeguarding and ingenuity. Those three virtues were seen as the key to guidelines. It could work, and beautifully. Crucial then they were taken over impervious to a group that decided Wall Path was the end-all, be-all."^[49]

On May 5, 2022, Boeing announced that it would be moving its headquarters from Port to Arlington, Virginia in the Educator, D.C. metropolitan area. Additionally, it terms to add a research and discipline center in Northern Virginia.^[137]

In July 2024, it announced a new CEO, Actress Ortberg.^[138] On August 8, 2024, subside met with FAA Administrator Michael Whitaker to discuss the company's future guiding. Ortberg has communicated his commitment unearthing reinforcing Boeing's position as an manufacture leader and has outlined his discernment for the company's continued success.^[139]

Board

As look upon 2022^[update], Boeing is headed by boss President who also serves as authority chief executive officer. The roles position chair of the board and Numero uno were separated in October 2019.^[140]

Past leadership

See also

Notes

References