Report: Boeing considers selling parts of the company due to financial crisis
A strike at the aircraft manufacturer could end shortly, but the financial situation remains tense. Boeing could therefore divest parts of the company.
(Image: Trevor Mogg/ Shutterstock.com)
Boeing has been slipping from one crisis to the next since the beginning of this year, which is putting a considerable strain on the aircraft manufacturer's finances. It is now reported that Boeing wants to sell parts of the company that are not part of its core business or whose results are below expectations. The company had previously sold a smaller division that produced surveillance systems and components for the US military, according to reports.
The crisis began in early January 2024 when a virtually new Boeing 737 Max 9 lost part of its fuselage in flight. This led Boeing to tighten its quality controls. At the end of March , the aircraft manufacturer replaced its management team following the incidents, and it was not until the beginning of August that Boeing got a new boss: Kelly Ortberg. He is trying to get the company back on track financially.
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Last week, Ortberg admitted that the business is in a difficult situation. The consequence: Boeing is laying off 17,000 employees and postponing the new 777X jet, the first delivery of which was originally planned for 2020. It is now aiming for 2026. In August, Boeing was forced to stop test flights after damage to a 777X prototype. In addition, tens of thousands of employees have been on strike since September.
Strike about to end, departments under the microscope
The latter could come to an end this week. Among other things, the struggling aircraft manufacturer is now offering a 35 percent pay rise over a period of four years. The trade union IAM (International Association of Machinists and Aerospace Workers) intends to put the proposal to a vote of its 33,000 members next Wednesday. The strike in the northwest of the USA, which began on September 13, paralyzed production of Boeing's best-selling 737 model and the long-haul 777 jet.
The Wall Street Journal is now reporting that Boeing CEO Ortberg has asked the heads of the company's various divisions to quantify the value of their respective groups to the company. In addition, Boeing's board of directors recently met to discuss the next steps. The board members questioned the department heads and went through the reports to examine the current status of each business unit. However, Boeing would not comment on the report when asked.
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