Boeing's new CEO, Dave Calhoun, has only been on the job since January, 2020...and to say he's been thrown in to the fire from the get-go is like saying there's no legroom in coach.
And he gets the enviable task of returning them to their former glory as the plane maker faces their most daunting challenges in the company's history.
The 737 MAX Disaster Was Just The First Gut-Punch
The two 737 MAX crashes that claimed 346 lives was a terrible black-eye. A total software failure that doomed the two flights, followed by pr blunders and misinformation put Boeing on its heels. Some even suggested the plane itself was/is a total write-off.
Then Came the Pandemic...
Then, just as Boeing was beginning to recover from the MAX issue, The Pandemic beat them in to submission (along with everyone else).
The result? A record loss of $12 Billion had many speculating this could put them under.
Meanwhile, The Airbus A321neo is Kicking Boeing's Backside Down to Only 35% Market Share
Not that Airbus didn't have struggles of their own, but they have a stellar performer in the A321neo, and customers lined up to get it (at least before 2020).
This, as well as the 737 MAX debacle, helped knock Boeing's market share from roughly 50% to 35% in 10 years.
Boeing Has Been Searching for a 757 Replacement for Years
The 737 is a legend. But it can't bridge all gaps in the single-aisle market. The 757 did a wonderful job...but got outdated.
Since then...Boeing has been scrambling trying to figure out the '57 successor. The 797? Ok...maybe. Where is it?
The Wait for New Technology...Electric Propulsion?
Electric and hybrid technology has arrived. It's great. It's the future. But the future is not here yet in a commercial passenger aircraft that makes any kind of sense financially.
A hybrid 797? Sounds great, Greg. In 2040...
Boeing has a robust military program...but its culture and identity is in people planes. And CEO Calhoun has got to find a way to fix it.
From Around the Tarmac...
Emirates to launch a new route between Dubai and Miami 4x a week using a Boeing 777-300ER as international travel continues to uptick.