{"id":117789,"date":"2024-10-24T10:38:49","date_gmt":"2024-10-24T03:38:49","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=117789"},"modified":"2024-10-24T10:38:49","modified_gmt":"2024-10-24T03:38:49","slug":"boeing-losses-on-starliner-increase-by-250-million","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=117789","title":{"rendered":"Boeing losses on Starliner increase by $250 million"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<p>WASHINGTON \u2014 Boeing is taking another charge against earnings of $250 million on its CST-100 Starliner commercial crew program as the company\u2019s new leader vowed it will not walk away from troubled programs like it.<\/p>\n<p>In a filing with the U.S. Securities and Exchange Commission Oct. 23, Boeing disclosed it took the charge in its fiscal third quarter \u201cprimarily to reflect schedule delays and higher testing and certification costs.\u201d This is in addition to <a href=\"https:\/\/spacenews.com\/boeing-takes-additional-125-million-loss-on-starliner\/\">a $125 million loss the company recorded in the second quarter<\/a>.<\/p>\n<p>The company <a href=\"https:\/\/spacenews.com\/boeing-plans-more-commercial-crew-charges\/\">had warned Oct. 11 that it would take a total of $2 billion in charges in the third quarter on four fixed-price programs<\/a> in its Defense, Space and Security, or BDS, business unit, including Starliner. The company did not state then how large the Starliner charge would be, although $1.6 billion in those charges were allocated to two military aircraft programs.<\/p>\n<p>The latest charge brings the total losses Boeing has recorded on Starliner to about $1.85 billion. The mounting losses have raised questions about whether Boeing will ever be able to make a profit on Starliner and might instead choose to end it.<\/p>\n<p>The SEC filing coincided with the release of Boeing\u2019s third-quarter financial results and an earnings call with Kelly Ortberg, who took over as chief executive in August. He did not specifically mention Starliner in the call but said that Boeing would continue work on fixed-price program like Starliner despite the losses.<\/p>\n<p>\u201cWe\u2019ve got some tough contracts and there\u2019s no magic bullet for that. We\u2019re going to have to work our way through some of those tough contracts,\u201d he said. Boeing, he noted, needed to be better at managing aspects of those contracts, including the level of risk the company assumes. \u201cWe\u2019ve been carrying risks with these programs and I don\u2019t think we\u2019ve been doing enough work with our customers to figure out how to de-risk these things before it turns into an EAC [estimate at completion] overrun.\u201d<\/p>\n<p>Later in the call, an analyst asked if Boeing would consider walking away from fixed-price programs where the company doesn\u2019t have a chance to make a profit. Ortberg ruled that out.<\/p>\n<p>\u201cI don\u2019t think that\u2019s a viable option for us,\u201d he said. \u201cEven if we wanted to, I don\u2019t think we can walk away from these contracts.\u201d He noted, though, an exception might be for programs that are going from one contract phase to another, where Boeing might evaluate if it wants to proceed into that next phase.<\/p>\n<p>\u201cI don\u2019t think a wholesale walkaway is just in the cards,\u201d he concluded.<\/p>\n<p>Boeing is also evaluating ways to streamline the business that might mean discontinuing work in some areas outside of commercial aviation and defense. \u201cWe\u2019re better off doing less and doing it better than doing more and not doing it well,\u201d he said.<\/p>\n<p>He declined to speculate on what areas it might drop. \u201cClearly, our core of commercial airplanes and defense are going to stay with The Boeing Company in the long run, but there\u2019s probably some things on the fringe that we can be more efficient with or that just distract us from our main goals.\u201d<\/p>\n<p>\u201cI don\u2019t have a specific list of the things that we\u2019re going to keep and we\u2019re not going to keep,\u201d he said. He said he wanted a \u201cgood feeling internally by the end of the year\u201d of what Boeing would seek to divest in some way.<\/p>\n<p><h3 class=\"jp-relatedposts-headline\"><em>Related<\/em><\/h3>\n<\/p><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/spacenews.com\/boeing-losses-on-starliner-increase-by-250-million\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>WASHINGTON \u2014 Boeing is taking another charge against earnings of $250 million on its CST-100 Starliner commercial crew program as the company\u2019s new leader vowed it will not walk away &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=117789\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8628],"tags":[],"class_list":["post-117789","post","type-post","status-publish","format-standard","hentry","category-science","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/117789","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=117789"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/117789\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=117789"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=117789"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=117789"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}