financetom
Business
financetom
/
Business
/
Boeing focused on 'trust building' in Latin America after global CEO shake-up
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Boeing focused on 'trust building' in Latin America after global CEO shake-up
Apr 11, 2024 11:52 AM

SANTIAGO (Reuters) - Boeing's ( BA ) Latin America President Landon Loomis says that the embattled airplane manufacturer is focusing on rebuilding trust after a series of safety incidents have shaken trust in the company and led CEO Dave Calhoun to announce he would step down by year-end.

"We are in the moment of a deep fundamental trust building exercise that has to flow through our entire factory, our engagements with the press, with government stakeholders, with our own employees," Loomis told Reuters in an interview at an aviation conference in Santiago.

"That's how we're handling this process of leadership transition."

Loomis said that the region is expected to grow at a pace of 5.5% of passenger traffic annually and will need an additional 2,000 aircraft in the next 20 years to meet demand.

He expects the company to be at the forefront of that demand, but Boeing ( BA ) has faced production issues, including deliveries dropping by half in March due to increased quality checks.

Loomis said that global delivery schedules are hard to meet but the company is focusing on reaching production stability with a focus on safety.

"That's our starting point, safety through quality," Loomis said, adding that the airline will be able to meet client demands.

Despite Brazil's GOL airlines filing for bankruptcy in January, Loomis says the airline is a "critical" partner in the region and one of the largest 737 customers in the world.

The executive said that the manufacturer's relationship with LATAM airlines is "growing," and that Boeing ( BA ) worked closely with the airline and Australian government after a flight suffered a sudden mid-air dive and injured 50 people.

The March incident followed a Jan. 5 mid-air panel blowout on a 737-Max plane, and earlier this week the company was hit with whistleblower allegations and an investigation due to the loss of an engine cover on a Southwest flight.

In February, an expert panel found a "disconnect" between Boeing's ( BA ) management and employees on safety concerns and some investors said a wider management shakeup is needed to address the company's safety problems.

"I think we're right now in an important moment and the company's managing it, so I don't have a thought on that," Loomis said when asked about the need for a wider management shakeup at the company.

When it comes to the short-term, Loomis said he wanted a year of "promises made, promises kept."

"It doesn't mean avoiding all the problems. It means handling the problem, addressing a problem, being honest about a problem," Loomis said. "That's the nuts and bolts of relationship management, building and trust building."

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Century Lithium Changes Clayton Valley Project Name to Angel Island Mine
Century Lithium Changes Clayton Valley Project Name to Angel Island Mine
Jul 23, 2024
08:48 AM EDT, 07/23/2024 (MT Newswires) -- Century Lithium ( CYDVF ) changed the name of its Clayton Valley Lithium Project in Nevada to the Angel Island Mine. Regulators encouraged a name change for clarity in the permitting process, Century Lithium ( CYDVF ) said. The Angel Island name distinguishes it from other mining and energy projects in the area...
Whole Foods settles ex-worker's lawsuit over Black Lives Matter masks
Whole Foods settles ex-worker's lawsuit over Black Lives Matter masks
Jul 23, 2024
BOSTON, July 23 (Reuters) - Whole Foods has reached an agreement to settle a lawsuit accusing it of illegally firing a worker who refused to remove her Black Lives Matter facemask and complained about racism at the Amazon.com ( AMZN )-owned upscale grocery chain. A lawyer for Whole Foods said in a filing on Monday in federal court in Boston...
Sector Update: Consumer
Sector Update: Consumer
Jul 23, 2024
08:45 AM EDT, 07/23/2024 (MT Newswires) -- Consumer stocks were edging higher pre-bell Tuesday as the Consumer Staples Select Sector SPDR Fund (XLP) advanced by 0.2% and the Consumer Discretionary Select Sector SPDR Fund (XLY) was recently up 0.4%. Philip Morris International Inc ( PM ) was more than 2% higher after it raised its full-year 2024 adjusted earnings guidance....
Whole Foods settles ex-worker's lawsuit over Black Lives Matter masks
Whole Foods settles ex-worker's lawsuit over Black Lives Matter masks
Jul 23, 2024
BOSTON (Reuters) - Whole Foods has reached an agreement to settle a lawsuit accusing it of illegally firing a worker who refused to remove her Black Lives Matter facemask and complained about racism at the Amazon.com ( AMZN )-owned upscale grocery chain. A lawyer for Whole Foods said in a filing on Monday in federal court in Boston it had...
Copyright 2023-2026 - www.financetom.com All Rights Reserved