a standstill.
Is any airline buying the 737 MAX?
Ukraine bought a bunch for Aeroflot.
2 Likes
Boeing to cut 10% of workforce, stop most 767 production amid strike
https://www.seattletimes.com/business/boeing-aerospace/boeing-to-cut-10-of-workforce-stop-most-767-production-amid-strike/
The job cuts will affect roughly 17,000 workers across all levels of the company, Boeing said Friday. It’s not clear how the cuts will impact the company’s 66,000-person Washington workforce, or the striking Machinists. In a note to employees Friday, new Boeing CEO Kelly Ortberg told workers the company had to “reset our workforce levels to align with our financial reality.”…
On Friday, Boeing said it expected to lose $1.3 billion in operating cash flow during the third quarter this year, according to financial results released before its scheduled earnings call later this month. It expected third quarter revenue of $17.8 billion, and a loss of $9.97 per share.
DB2
Reality check. The 76 is ancient. From what I see on Wiki, which is supposed to be current as of September 2024, BA has received zero orders for 76s this year. Their current backlog is only 29 planes, plus 60 on the Air Force tanker contract. Their normal production rate, in recent years, has been 30 or so per year. But, like most management, blame the striking workers for “destroying jobs”, when the product is dead anyway.
Steve
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When you’re making cuts in your business you start with the least essential/profitable parts. Sounds like the 767 fits the bill.
DB2
Trying to replicate the auto industry? Higher ATP to get greater profit on fewer sales…
Any industry. If you find yourself with negative cash flow and lots of debt you have to slow/stop the bleeding. You make cuts that hurt the least.
DB2
This is true. Unlike the auto industry, which has been pocketing record amounts of loot in recent years, Boeing is on the downside of the Welchism curve, when the Welchist policies finally blow up in their face.
Steve
2 Likes
Tragically exactly so.
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