Boeing saw another difficult year financially in 2024, announcing it lost $4 billion in the fourth quarter. Boeing experienced a machinist strike that began in September and resulted in the stoppage of most of Boeing’s commercial aircraft production.
About 30,000 workers went on strike, seeking better wages. The labor action cost the company about $50 million per day, according to Bank of America.
The strike ended in November 2024.
Boeing was also marred by maintenance problems throughout last year.
In January 2024, a door plug blew off an Alaska Airlines Boeing 737 Max 9 mid-flight. The door panel was missing bolts, sparking yet another round of questions and safety inspections.
The aircraft manufacturer was already under the microscope after two fatal 737 Max jetliner crashes. Hundreds of people were killed in both the 2018 Indonesia and 2019 Ethiopia accidents.
In addition, Boeing struggled with its defense unit. The company revealed it lost $1.7 billion on its KC-46A refueling tanker.
Still, Boeing CEO Kelly Ortberg tried to paint an optimistic picture, saying the company took important steps to stabilize its business and that it was working hard to build a new future.
This week, President Donald Trump’s nominee for Transportation Secretary, Sean Duffy, said Boeing needs tough love to get back on track. He will keep the FAA-imposed production cap of 38 planes per month in place for the 737 Max. Duffy also said he plans to meet with Boeing leadership.
