Welcome to Extreme Investor Network, where we bring you unique insights and analysis on the latest business news. Today, we’re diving into the recent developments at Boeing, one of the world’s leading aircraft manufacturers.
Boeing recently made headlines as more than 32,000 of its machinists, who were on strike, are required to return to their factories. While the strike has ended with a new contract that includes significant pay raises and other improvements, getting production back on track will take some time.
The company handed over 14 jetliners in October, the fewest since November 2020, due to the strike’s impact on production. Boeing’s struggles have caused it to fall behind European rival Airbus in terms of aircraft deliveries this year.
As workers return to the factories, Boeing faces the challenge of assessing potential hazards, restating machinist duties and safety requirements, and ensuring that all training qualifications are current. CEO Kelly Ortberg emphasized the importance of restarting production correctly during the company’s quarterly call last month.
Production is set to resume for the 737 Max, 767, and 777 programs in Washington state and Oregon, as well as military versions of Boeing’s aircraft. The 787 Dreamliner production continued during the strike as those planes are manufactured in a nonunion factory in South Carolina.
Despite the strike interruption, Boeing continued to secure aircraft orders in October and handed over several planes to customers. The company remains a key player in the aviation industry, with ongoing developments and challenges shaping its future.
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