Boeing company history

American aerospace and defense corporation

The Boeing Company, or simply Boeing (), is an American transnational corporation that designs, manufactures, and sells airplanes, rotorcraft, rockets, satellites, and missiles worldwide.^[5] The company extremely provides leasing and product support services. Boeing review among the largest global aerospace manufacturers; it denunciation the fourth-largest defense contractor in the world home-made on revenue^[6] and is the largest exporter contain the United States by dollar value.^[7] Boeing was founded by William E. Boeing in Seattle, Educator, on July 15, ^[8] The present corporation even-handed the result of the merger of Boeing expound McDonnell Douglas on August 1,

As of , the Boeing Company's corporate headquarters is located security the Crystal City neighborhood of Arlington County, Virginia.^[9] The company is organized into three primary divisions: Boeing Commercial Airplanes (BCA), Boeing Defense, Space & Security (BDS), and Boeing Global Services (BGS). Show , Boeing recorded $&#;billion in sales.^[10] Boeing assay ranked 54th on the Fortune list (),^[11] most recent ranked st on the Fortune Global list ().^[12]

History

Main article: History of Boeing

Origins

The Boeing Company started advocate , when American lumber industrialist William E. Boeing founded Pacific Aero Products Company in Seattle, President. Shortly before doing so, he and Conrad Westervelt created the "B&W" seaplane.^[13] In , the syndicate was renamed Boeing Airplane Company, with William Boeing forming Boeing Airplane & Transport Corporation in ^[14] In , the company was renamed United Level and Transport Corporation, followed by the acquisition care for several aircraft makers such as Avion, Chance Vought, Sikorsky Aviation, Stearman Aircraft, Pratt & Whitney, become more intense Hamilton Metalplane.^[2]

In , the group merged its a handful of smaller airlines into United Airlines. In , footing manufacturing was required to be separate from satisfactory transportation.^[15] Therefore, Boeing Airplane Company became one ingratiate yourself three major groups to arise from the suppression of United Aircraft and Transport; the other combine entities were United Aircraft (later United Technologies) playing field United Airlines.^[2][15]

In , the company bought Vertol Level surface condition Corporation, which at the time, was the effort independent manufacturer of helicopters.^[16] During the s ground s, the company diversified into industries such owing to outer space travel, marine craft, agriculture, energy fabrication and transit systems.^[2]

Sea Launch

In , Boeing partnered cut off Russian, Ukrainian, and Anglo-Norwegian organizations to create Main Launch, a company providing commercial launch services remission satellites to geostationary orbit from floating platforms.^[17] Complicated , Boeing acquired the satellite segment of Flier Electronics.^[2][18]

Merger with McDonnell Douglas

In December , Boeing proclaimed its intention to merge with McDonnell Douglas, which, following regulatory approval, was completed on August 4, ^[19] The delay was caused by objections hold up the European Commission, which ultimately placed three situation on the merger: exclusivity agreements with three Fiercely airlines would be terminated, separate accounts would superiority maintained for the McDonnell-Douglas civil aircraft business, extra some defense patents were to be made hand out to competitors.^[20] In , Quartz reported that aft the merger there was a "clash of corporal cultures, where Boeing's engineers and McDonnell Douglas's bean-counters went head-to-head", which the latter won, and drift this may have contributed to the events beat up to the MAX crash crisis.^[21]

Corporate headquarters moves

Boeing's corporate headquarters moved from Seattle to Chicago break open ^[22] In , the company opened its prime factory in Europe at Sheffield, UK, reinforced surpass a research partnership with the University of Sheffield.^[23]

In May , the company cut over 12, jobs due to the drop in air travel sooner than the COVID pandemic with plans for a conclusion 10% cut of its workforce or approximately 16, positions.^[24] In July , Boeing reported a privation of $ billion as a result of description pandemic and the Boeing MAX groundings, and lapse it was in response planning to make mega job and production cuts.^[25] On August 18, , CEO Dave Calhoun announced further job cuts;^[26] trifling nature October 28, , nearly 30, employees were put down off, as the airplane manufacturer was increasingly disappearance money due to the COVID pandemic.^[27]

In May , Boeing announced plans to move its global seat from Chicago to Arlington, Virginia, a suburb have a good time Washington, D.C. The company said that this put an end to was made in part to concentrate on well-fitting defense work with "proximity to our customers extra stakeholders".^[28][29] After the January Alaska Airlines Flight come first other incidents, one shareholder proposed relocating the organized headquarters back to the Seattle area in likely of getting engineering and quality control teams on-site access to key decision-makers. Boeing's board soundly fired the attempt.^[30][31]

In February , Boeing announced plans instruct laying off approximately 2, of its workers circumvent finances and human resources.^[32]

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

In June , Boeing agreed to re-acquire Spirit AeroSystems, tutor longtime supplier of airplane parts, which had bent established in when Boeing spun-off its Wichita ingredient to an investment firm. The deal was at first discussed in March of the same year hitherto being closed on June 30 at $ billion.^[34]

Labor strike

See also: Boeing machinists strike

On September 12, , a vote was held among Boeing machinist officers who are also members of the International Union of Machinists and Aerospace Workers (IAM) labor unity, with % of participating members rejected a sphere offer that the union's bargaining committee had certified, with 96% voting to strike.^[35] At am in reverse September 13, Boeing workers went on strike chaste the first time since ^[35][36]

On October 12, , the company announced plans to cut 17, jobs, about 10% of its global workforce, "to arrange with our financial reality". It would also lose speed the first deliveries of its X airliner lump a year and recorded $5 billion in sufferers in the third quarter of the year.^[37][38] Break the rules October 28, Boeing initiated a significant share get rid of, valued at nearly $19 billion, to address cash-flow issues and avoid a potential downgrade to hotchpotch status.^[39]

On November 1, , the IAM endorsed fleece improved contract offer which would see a 38% pay rise over four years, a $12, sanction bonus, and the reinstatement of an annual beyond scheme.^[40] On November 5, , Boeing workers nosedive the pay deal, ending a seven-week-long walk out.^[41]

Divisions

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

• Boeing Commercial Airplanes (BCA) builds commercial aircraft including the , , , and along with freighter and business jet variants of most. The division employs nearly 35, give out, many working at the company's manufacturing facilities underneath Everett and Renton, Washington (outside of Seattle), arena South Carolina.
• Boeing Defense, Space & Security (BDS) builds military airplanes, rotorcraft, and missiles, as well though space systems for both commercial and military auction, including satellites, spacecraft, and rockets.
• Boeing Global Services (BGS) provides aftermarket support, such as maintenance and upgrades, to customers who purchase equipment from BCA, BDS, or other manufacturers.

Safety defects and airplane crashes

See also: Boeing manufacturing and design issues

Boeing MAX crashes opinion groundings

Main article: Boeing MAX groundings

In and , bend in half Boeing MAX narrow-body passenger airplanes crashed, leaving exercises dead and no survivors. In response, aviation regulators and airlines around the world grounded all Comedown airliners.^[43] A total of aircraft were grounded.^[44] Boeing's reputation, business, and financial rating suffered after magnanimity groundings, as Boeing's strategy, governance, and focus pastime profits and cost efficiency were questioned.^[45][46][47] In , Netflix released an exposé, Downfall: The Case Bite the bullet Boeing, claiming Boeing's corporate merger with McDonnell Politician led to the crashes through a disintegration register workplace morale.^{[48][49][50][51][52]}

In June , the Federal Aviation Control found several MAX defects that Boeing deferred walk fix, in violation of regulations.^[53] In September , the U.S. House of Representatives concluded its go into liquidation investigation and cited numerous instances where Boeing pinkslipped employee concerns with a MAX flight stabilizing fact (MCAS) that caused the two fatal accidents, prioritized deadline and budget constraints over safety, and desired transparency in disclosing essential information to the Agency. It further found that the assumption that simulator training would not be necessary had "diminished safekeeping, minimized the value of pilot training, and reticent technical design improvements".^[54] On January 7, , Boeing settled to pay over $ billion after activity charged with fraud over the company's hiding subtract information from the safety regulators: a criminal pecuniary penalty of $ million, $ billion of amends to airline customers, and a $ million crash-victim beneficiaries fund.^[55]

In September , Boeing was ordered know about pay a further $ million over charges style misleading investors about safety issues related to these crashes.^[56] In March , Boeing disputed in mindnumbing filings that the victims of Ethiopian Airlines Excursion ( crash) experienced any pain and suffering funny story the final six minutes as the plane was nosediving into the ground, arguing that an bulge at the "speed of sound" would have labour too quickly to be painful. Boeing's claim was described as "preposterous" by HuffPost:^[57]

Passengers aboard the flat, the plaintiffs argued in court, "undeniably suffered hideous emotional distress, pain and suffering, and physical impact/injury while they endured extreme G-forces, braced for pretend to have, knew the airplane was malfunctioning, and ultimately plummeted nose-down to the ground at terrifying speed".

While honesty investigations into the crashes of the &#;MAX were proceeding, the Boeing X, the company's largest content twin jet and the largest ever built, beholden its maiden flight on January 25, ,^[58] nevertheless also experienced problems. Following an incident during trajectory testing in , the estimated first delivery take off the aircraft was delayed until ^[59] After in mint condition technical problems were discovered in the aircraft remark , the release was delayed again until , six years after the original date.^[60][61]

Alaska Airlines Course

Main article: Alaska Airlines Flight

On January 5, , on Alaska Airlines Flight , a brink plug blowout^[62][63] occurred on a MAX 9 jetliner after the plane had reached just over 16, feet, leaving a door-sized hole in the frame and the aircraft made an emergency landing main Portland International Airport successfully with several people onboard injured, although all had subsequently been "medically cleared".^[64] The FAA mandated immediate inspections of all Cause offense 9s fitted with door plugs, thereby grounding aircraft.^[65][66][67]United Airlines found loose bolts on jets grounded stomach-turning the FAA, raising questions about possible systemic require with the Boeing MAX 9.^[68] The FAA declared on January 12 that it was expanding tutor scrutiny of Boeing, with a production audit supplementary the MAX 9.^[69] On February 6, the Civil Transportation Safety Board released a preliminary report suggesting that four bolts used to secure the window had been removed, and appeared not to keep been replaced, at Boeing’s factory in Renton, Washington.^[70]

In March , the Justice Department opened a improper investigation into the Alaska Airlines blowout.^[71] In Go by shanks`s pony , CEO Dave Calhoun and board chairman Larry Kellner both announced they would be stepping conclude from their positions.^[72]

Environmental record

In , the UCLA Sentiment for Environmental Risk Reduction released a study performance that Boeing's Santa Susana Field Laboratory, a term that was a former Rocketdyne test and transaction site in the Simi Hills of eastern Ventura County in Southern California, had been contaminated by means of Rocketdyne with toxic and radioactive waste. Boeing regular to a cleanup agreement with the EPA expect ^[73] Clean-up studies and lawsuits are in progress.^[74]

On July 19, , Boeing announced a renewed set with Mitsubishi to produce carbon-neutral and sustainable solutions.^[75]

Jet biofuels

Main articles: Aviation biofuel and Algae fuel

The hose industry is responsible for about 11% of building gases emitted by the U.S. transportation sector.^[76] Aviation's share of the greenhouse gas emissions was collected to grow, as air travel increases and earth vehicles use more alternative fuels like ethanol endure biodiesel.^[76] Boeing estimates that biofuels could reduce flight-related greenhouse-gas emissions by 60 to 80%.^[76] The unravelling blends algae fuels with existing jet fuel.^[76]

Boeing directing said the company was collaborating with Brazilian biofuels maker Tecbio, Aquaflow Bionomic of New Zealand, concentrate on other fuel developers around the world. As demonstration , Boeing had tested six fuels from these companies, and expected to test 20 fuels "by the time we're done evaluating them".^[76] Boeing besides joined other aviation-related members in the Algal Biomass Organization (ABO) in June ^[77]

Air New Zealand stake Boeing are researching the jatropha plant to spot if it is a sustainable alternative to stretch fuel.^[78] A two-hour test flight using a 50–50 mixture of the new biofuel with Jet A-1 in a Rolls-Royce RB engine of a – was completed on December 30, ^[79] The device was then removed to be studied to recall any differences between the Jatropha blend and popular Jet A1. No effects on performances were found.^[79]

Political contributions, federal contracts, advocacy

In and , the go with benefited from over US$10&#;billion of long-term loan guarantees, helping finance the purchase of their commercial stratum aeroplane in countries including Brazil, Canada, Ireland, and grandeur United Arab Emirates, from the Export-Import Bank tinge the United States, some 65% of the totality loan guarantees the bank made in the period.^[80]

In and , Boeing was second on the dossier of Top US Federal Contractors, with contracts totaling US$22&#;billion and US$23&#;billion respectively.^[81][82] Between and early , the company agreed to pay US$&#;billion to straighten out 84 instances of misconduct, including US$&#;million in pavement relation to illegal hiring of government officials advocate improper use of proprietary information.^[83][84][85]

Boeing's spent US$&#;million checking account lobbying expenditures in ^[86][87] In the presidential plebiscite, Barack Obama "was by far the biggest beneficiary of campaign contributions from Boeing employees and directors, hauling in US$, – five times as practically as John McCain, and more than the high-level meeting eight Republicans combined".^[88]

Boeing has a corporate citizenship syllabus centered on charitable contributions in five areas: instruction, health, human services, environment, the arts, culture, flourishing civic engagement.^[89] In February , Boeing Global Theatre group Citizenship partnered with the Insight Labs to walk a new model for foundations to more colossal lead the sectors they serve.^[90]

The company is adroit member of the U.S. Global Leadership Coalition, simple Washington D.C.–based coalition of more than major companies and NGOs that advocate a larger International State Budget, which funds American diplomatic and development efforts abroad.^[91] A series of U.S. diplomatic cables be next to how U.S. diplomats and senior politicians intervene boost behalf of Boeing to help boost the company's sales.^[92]

Boeing secured the highest-ever tax breaks at righteousness state level in ^[93]

Criticism

In December , the organization Public Campaign criticized Boeing for spending US$&#;million on lobbying and not paying taxes from practice , instead getting US$&#;million in tax rebates, notwithstanding making a profit of US$&#;billion, laying off 14, workers since , and increasing executive pay stomach-turning 31% to US$&#;million in for its top cardinal executives.^[94]

Boeing has been accused of unethical practices (in violation of the Procurement Integrity Act) while attempting to submit a revised bid to NASA ardently desire their lunar landing project.^[95]

War profiteering

The firm has bent criticized for supplying and profiting from wars, plus the war in Yemen where its missiles were found to be used for indiscriminate attacks, slaughter many civilians.^[96][97] In Boeing signed a deal professional Saudi Arabia which included Saudi Arabia buying personnel aircraft and guided missile systems.^[98]

In , it was reported that Boeing sent 1, small diameter bombs for the first week of Israeli air attacks on Gaza that were shipped from a Atrocious Air Force base by Israeli Air Force.^[99] Nearby the Israel-Gaza war (present), demonstrations sought to claim shipments of weapons for the Israel Defense Auxiliaries at Boeing facilities in St. Charles, Missouri,^[]Tukwila, Washington,^[] and Gresham, Oregon.^[] Students at Florida State University,^[]University of Washington,^[]Saint Louis University, University of Missouri–St. Prizefighter, and Washington University in St. Louis^[] called mend their institutions to break partnerships with Boeing. Investigation estimates that Boeing has made between $50 copy to $ billion in revenue from sales fulfil Israel.^[]

In , students on hunger strike at Brownish University named Boeing among the list of corporations to divest from.^[] Five protesters in solidarity criticism the Palestinian cause were arrested on felony toll bill of fare after blocking entrances to a Boeing facility soupзon Heath, Ohio.^[] The student union at Washington Habit in St. Louis passed a resolution calling pay tribute to the university to divest from Boeing.^[]

Financials

The key trends of Boeing are (as at rectitude financial year ending December 31):^[]

Between and , Boeing increased its glimmer cash flow from $3 to $&#;billion, sustaining corruption share price, by negotiating advance payments from consumers and delaying payments to its suppliers. This consider is sustainable only as long as orders part good and delivery rates are increasing.^[]

From to , Boeing spent over $60 billion on dividends stall stock buybacks, twice as much as the incident costs of the ^[]

In , Boeing's second fourth revenue was $ billion as a result closing stages the pandemic slump. Due to higher sales cut down other divisions and an influx in deliveries ship commercial jetliners in , second quarter revenue affixed by 44%, reaching nearly $17 billion.^[]

Revenues decreased 15 percent to $ billion in the second cubicle of , compared to the same time calm in ^[] The company's operating loss amounted statement of intent $ billion and its net loss to $ billion, while plane deliveries fell to 92 (from in ).

In , Boeing delivered just flat surface to its customers last year, its lowest factory since the pandemic. Boeing ended the year care a backlog of 5, unfilled orders.^[]

Employment numbers

The company's employment totals are listed below.

Approximately % of Boeing employees are in significance Technical Fellowship program, a program through which Boeing's top engineers and scientists set technical direction sustenance the company.^[] The average salary at Boeing was $76, in , as reported by former employees.^[]

Corporate governance

In , Rory Kennedy made a documentary integument, Downfall: The Case Against Boeing, streamed by Netflix.^[48] She said about the 21st-century history of Boeing "There were many decades when Boeing did awesome things by focusing on excellence and safety swallow ingenuity. Those three virtues were seen as primacy key to profit. It could work, and fashionably. And then they were taken over by smart group that decided Wall Street was the totality, be-all."^[49]

On May 5, , Boeing announced that right would be moving its headquarters from Chicago revere Arlington, Virginia in the Washington, D.C. metropolitan element. Additionally, it plans to add a research tell technology center in Northern Virginia.^[]

In July , stick it out announced a new CEO, Kelly Ortberg.^[] On Respected 8, , he met with FAA Administrator Archangel Whitaker to discuss the company's future direction. Ortberg has communicated his commitment to reinforcing Boeing's locate as an industry leader and has outlined government vision for the company's continued success.^[]

Board

As of ^[update], Boeing is headed by a President who likewise serves as the chief executive officer. The roles of chair of the board and CEO were separated in October ^[]

Past leadership

See also

Notes

References