Charles Alcock is managing editor of the AIN Media Group, having rejoined the company in 2019. He has been an aviation journalist since 1986, and previously worked for AIN from 1990 to 2017, most recently as editor-in-chief. His main focus is on covering new aviation technology and business models, as well as international news.
Having been raised in the London area, Alcock studied at the University of Manchester in the UK and earned an honors degree in Politics and Modern History. He speaks English and French, and some German.

Managing Editor

Charles Alcock

Boeing’s rebooted leadership team led by new CEO Kelly Ortberg has started 2025 determined to put painful losses in both civil and defense business divisions in the past tense. This was the glass-half-full messaging from a 2024 results call on Tuesday headlined by an almost five-fold worsening in net losses at $11.8 billion from revenues that declined by 14.5% to $66.5 billion.
Ortberg told analysts that the group is making “steady progress” in stabilizing its commercial airplane business, which was badly knocked off course last year by a highly disruptive strike by members of the IAM union. Boeing is focused on ramping up production but within the strict confines of what can be sustained within the safety management system it has recast in close cooperation with the FAA.
During 2024, Boeing delivered 348 airliners, which was 34% down on the 528 total recorded in 2023. Overall, its commercial airplane business sustained losses of just under $8 billion last year, while the Defense, Space &amp; Security unit took a $5.4 billion hit. These losses were partly offset by earnings of $3.6 billion in the Global Services division.
Output of Boeing’s 737 Max family of narrowbody airliners is now being sustained at 38 units per month from its three production lines in Renton, Washington. It is also focused on bolstering the supply chains for the 787 widebody while phasing out the so-called “shadow factories” it had to resort to in response to the now-resolved industrial action.
<h2>Cautious Production Recovery</h2>
According to Ortberg, while he now believes his team “has a path” to get beyond a 38-per-month output for the 737s, Boeing will not seek FAA clearance to execute the ramp-up until it is convinced it can do so in a safe and sustainable way. The company is also still seeking resolution for issues with the engine anti-ice system that triggered airworthiness directives for the 787 aircraft.
Boeing was recently able to resume test flights with the new 777X aircraft as it works to resolve damage to a structural part connecting its engines to the airframe. CFO Brian West told analysts that the company expects to be able to start deliveries for this model in 2026.
Costly work to restore order to the commercial airplane business, and also to solve problems in the defense division—which has incurred balance sheet-denting charges for program overruns and failures—are expected to see continued high cash burn through the first half of 2025. West said he expects this negative trend (currently resulting in a quarterly cash burn as high as $4.1 billion) to reverse in the second six months of this year as Boeing strives to get back in the black in 2026.
Former Collins and RTX group leader Ortberg, who took the top job at Boeing in August 2024, stated that the next few months are likely to see moves to consolidate the group around its core activities. He indicated this could transpire through a mix of sell-offs and closures and confirmed that aviation software group Jeppesen is among those that could be jettisoned as Boeing seeks to gain altitude once again.

Issues regarding financing of aircraft; aviation insurance; tax issues for aircraft operators; new companies and people in the aviation financing and insurance industries.

Boeing Strives To Turn Corner on Heavy Commercial Airplane & Defense Losses

Machinists’ strike and troubled defense programs take a toll on balance sheet

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In this article

Boeing 737 Series

Boeing 787

Boeing 777

Boeing Commercial

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