The manufacturer still faces a difficult recovery

Boeing You embark on another rebuilding year.

A year ago, the company was thrust back into the spotlight over safety and quality concerns when a fuselage panel covered an unused emergency exit door. It exploded in midair From a nearly new Boeing 737 MAX 9 operated by Alaska Airlines. The accident terrified those on board, although no one was seriously injured, and the plane made a safe emergency landing in Portland, Oregon.

The bolts were key Not installed Before the plane left Boeing's Renton, Wash., 737 factory, a preliminary National Transportation Safety Board report found, once again tarnishing the company's reputation. image From a prominent American source.

Boeing's stock price has fallen more than 30% over the past 12 months, while the S&P 500 has risen nearly 27%.

Boeing leaders have spent the past 12 months making major changes over that period Alternatives In its executive ranks, including A New CEOto more vigorous training for hundreds of factory workers, many of whom are new.

The company on Friday outlined the progress it has made over the past year, including the start of random quality audits at factories. Boeing said it has “significantly” reduced defects in the fuselage of its 737 aircraft Air spirit systemsany It's a buybackand reduce so-called mobile work, where aircraft construction tasks are done out of sequence, in an attempt to reduce defects. The manufacturer also said it addressed much of the feedback provided by employees during sessions with management throughout the year.

Since the accident, the FAA has increased its oversight of Boeing, limiting production of its best-selling 737 MAX planes, though production remains below those levels. FAA Chairman Mike Whitaker, who said he would Step down on January 20“Enhanced oversight is here to stay,” he warned the company on Friday.

Boeing's transformation is “not a one-year project,” he said.

“What is needed is a fundamental cultural shift at Boeing that focuses on safety and quality above profits,” Whitaker said in a statement. “This will require sustained effort and commitment from Boeing and unwavering scrutiny on our part.”

That year was the first of two fatal crashes involving 737 MAX planes that killed 346 people — Boeing's worst crisis in recent memory. A Flight control system It was involved in both incidents, and the plane was grounded worldwide for nearly two years.

Other quality flaws have emerged over the years, delaying deliveries of the 737 MAX, the 787 Dreamliner, and a pair of 747s that will serve as Air Force One, among others.

Since 2019, Boeing has lost more than $30 billion, and its new CEO has been tasked with ensuring Boeing can ramp up production without defects that have slowed deliveries in the past.

In August, the company brought Kelly Ortberga former Rockwell Collins CEO with three decades of aviation experience, has been appointed as Boeing's new CEO, replacing Dave Calhoun.

Weeks into Ortberg's tenure, Boeing's mechanics He went on strike For about two months, work was on hold after they agreed to a new four-year labor deal with 38% raises. Some workers have long sought to acquire Boeing Reinstatement of pensionsBut that was not part of the new labor deal.

However, the strike disrupted production of most Boeing aircraft, although factories have resumed production in recent weeks. It's setting Boeing up for another year of focus stability Production to deliver planes to airlines before ramping up further, while Airbus continues to outpace Boeing's deliveries.

Boeing raised billions this fall to stave off the crisis. Ortberg also said The company will be cut off 10% of its workforce of approximately 170,000 people. Notices started going out late last year. Ortberg said in October that the company should focus on its core business and that it would review its investment portfolio.

“I think we're better off … doing less and doing it better than doing more and doing it poorly,” he said on his first earnings call in October.

He spent the first weeks of his term visiting factories and moved to the Seattle area, where most of Boeing's production is based, and drew praise from airline executives who had improved. angry With the company's rollover aircraft delivered during the post-pandemic travel boom.

Bob Jordan, CEO of Boeing 737 Airlines SouthwestHe warned in an interview last month that it was “really early” for Boeing to recover, but said he believed Ortberg understood the depth of the problems at the company.

“He's not looking at this as a band-aid. He's looking at this as a sweeping change for Boeing,” he said.