Boeing Faces Challenges and Setbacks: A Year Full of Turbulence

The year 2024 was one that posed significant challenges to Boeing and ultimately led to the less flattering distinction of being the worst performer in the Dow Jones Industrial Average. Despite the overall positive performance of the index by 13%, led by Nvidia with more than a doubling of its stock price, Boeing lost 31% in value over the past year, surpassing even Nike, which had nearly a 30% loss. The start of the new year immediately brought Boeing into the spotlight. In early January, an Alaska Airlines 737 Max lost a critical component during flight, indicating manufacturer errors due to the aircraft's recent delivery. The incident led to extensive corporate changes and increased scrutiny from regulators such as the Federal Aviation Administration, which restricted the production of the 737 Max. In March, the then-CEO Dave Calhoun handed over his position to Kelly Ortberg, a long-time industry veteran who promised a stronger focus on engineering and chose Boeing's historic location in Seattle as his new base. Despite these approaches, Boeing continued to be unable to escape the headlines. In September, Boeing's Starliner spacecraft returned to Earth without a crew, with the involved astronauts unexpectedly spending eight months in space—defective technology was the reason for the extended stay. Shortly thereafter, 30,000 Boeing employees went on strike, significantly affecting production and further delaying the launch of the uncertified 777X jet. In light of these difficulties, Ortberg announced that 10% of the workforce would need to be laid off.