Can New CEO Kelly Ortberg Successfully Turnaround Boeing?, and More

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Can Kelly Ortberg Pull a Successful Boeing Turnaround?

Boeing has tapped industry veteran Kelly Ortberg as its new CEO and President, effective August 8th. Ortberg will succeed David Calhoun, who is stepping down after a turbulent 4.5-year tenure marked by the 737 MAX crisis and more recent quality control issues.

At first glance, the 64-year-old Ortberg seems like a solid choice to right the ship at Boeing.

He brings over 35 years of aerospace experience, most recently as CEO of avionics maker Rockwell Collins (Collins Aerospace) from 2013 to 2020. There, he oversaw the company's merger with United Technologies.

Ortberg is well-respected as an operations-focused leader who builds strong teams and isn't afraid to speak hard truths. He once publicly called out Boeing "delinquent" over its payment practices with suppliers.

But make no mistake, Ortberg is inheriting a colossal mess at Boeing. The company's reputation and financials are in tatters after a ….……. Read Full Article

Other key Aviation and Aerospace Industry updates for today 👇

Boeing Targets 737 MAX 7 and 10 Certification by Mid-2025 Amid Anti-Ice System Fix

Boeing plans to certify its 737 MAX 7 and 10 aircraft by mid-2025 after resolving an engine anti-ice system issue.

The FAA's airworthiness directive highlighted overheating risks, prompting Boeing to develop a new engineering solution, now in progress and expected to be completed by year-end.

Archer's eVTOL Factory Nears Completion in Georgia, Showcases Midnight Aircraft

Archer Aviation is close to finishing its 400,000-square-foot eVTOL manufacturing facility in Covington, Georgia, set to produce up to 650 Midnight aircraft annually.

The company recently showcased its Midnight eVTOL in Atlanta, demonstrating progress towards its 2024 completion goal.

Archer's partnership with Stellantis continues to advance plans for mass production of the Midnight aircraft.

Record-Breaking Attendance at Oshkosh 2024: Over 686,000 Aviation Enthusiasts Gather

EAA AirVenture Oshkosh 2024 set a new attendance record with 686,000 visitors, surpassing 2023's 677,000.

The event featured 861 commercial exhibitors, 10,000+ aircraft, and 1,600 sessions.

International guests from 98 countries participated, and $2.8 million was raised for aviation education.

Chorus Aviation Divests $1.9B Aircraft Leasing Unit to Streamline Operations

Chorus Aviation announced the sale of its regional aircraft leasing segment, including Falko Regional Aircraft Limited, to HPS Investment Partners for $1.9 billion.

The deal, expected to close by year-end, aims to reduce Chorus's debt, improve its balance sheet, and refocus on core aviation services.

The transaction includes $814 million in cash and $1.1 billion in assumed debt.

Aviation Market Is ‘Very Strong,’ AerCap CEO Says

AerCap's CEO Aengus Kelly reports robust aviation market conditions, citing strong half-year results and raised guidance.

The company had recently announced a $3 billion engine order, a new $500 million share repurchase program, and its first-ever quarterly dividend of $0.25 per share, reflecting confidence in future profits and cash flows.

Rolls-Royce Civil Aerospace Soars with Strong Large-Engine Aftermarket and Business Aviation Growth

Rolls-Royce's civil aerospace division saw significant growth due to a robust large-engine aftermarket and increased business aviation activity.

This contributed to a 74% rise in underlying operating profit, leading to a raised full-year profit guidance and the reinstatement of dividends for the first time since 2020.

FAA Authorizes Historic Drone Deliveries in Dallas Using Advanced UTM Technology

The FAA has approved commercial drone flights without visual observers in Dallas, allowing Zipline and Wing to deliver packages using Unmanned Aircraft System Traffic Management (UTM) technology.

This milestone enables Beyond Visual Line of Sight (BVLOS) operations, with initial flights starting in August.

AirAsia X Advances Acquisition of Capital A’s Aviation Business to Boost Expansion

AirAsia X progresses in acquiring Capital A’s aviation business, submitting a listing application to Bursa Malaysia.

The RM6.8 billion deal consolidates AirAsia’s short and medium-haul routes, aiming to enhance market position, operational efficiency, and financial performance, while unifying under the AirAsia brand.