In the next week, Boeing will hold its annual meeting, report first-quarter results and face the application deadline for a multi-billion dollar aid package from the federal government.
Those familiar with the discussions of Boeing's leadership said Calhoun is planning to show investors the company will build two financial bridges to the future: A near-term one focused on cutting near-term losses brought on by theand a longer-term bridge to deal with fewer orders for commercial airplanes and a smaller airline industry.
The question for investors is how much it will cost Boeing to build those bridges and where will the money come from. The growing uncertainty over possible losses in the first quarter and beyond is a principal reason shares of Boeing are down more than 50% since Calhoun became CEO in January. Calhoun has made it clear he and his leadership team are preparing the company for a future that will look far different than two years ago, when commercial airplanes orders were soaring and production rates climbed to record highs.
In a message sent to Boeing employees in early April, Calhoun wrote, "We will need to balance the supply and demand accordingly as the industry goes through the recovery process for years to come." That means production cuts in the commercial airplane division. Boeing executives tell CNBC the company is expected to outline new targets for wide-body plane production, including a new, lower monthly build rate for the 787 Dreamliner.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Boeing terminates $4.2 billion deal with EmbraerBoeing has terminated its $4.2 billion deal with Brazilian aircraft maker Embraer, the American company announced Saturday. The deal would have given Boeing a bigger stake in the market for smaller jets and help the company develop airplanes more cheaply.
Read more »
Boeing pulls out of Embraer merger talks: sourcesBoeing Co has told the Brazilian planemaker Embraer that Embraer has not met conditions needed to complete a civil aerospace tie-up, meaning the $4.2 billion deal is off for the foreseeable future, two people familiar with the matter said.
Read more »
Boeing pulls out of $4.2 billion deal for Embraer's commercial jet unitBoeing Co on Saturday said it had canceled a $4.2 billion deal to buy the commercial jets division of Embraer , unraveling years of work on what the Brazilian planemaker expected to be a transformative move.
Read more »
Boeing terminates joint venture agreement with Brazil's Embraer
Read more »
Proxy advisers recommend Boeing shareholders vote against key board membersTwo proxy advisers, Glass Lewis and Institutional Shareholder Services (ISS), have recommended that shareholders of Boeing Co vote against key board members of the planemaker to show objections to the company's handling of the 737 Max crisis.
Read more »