(Updates with latest events)
July 31 (Reuters) -
After a months-long search, Boeing ( BA ) has appointed
aerospace industry veteran Kelly Ortberg as its new CEO,
entrusting the former Rockwell Collins executive with the
monumental job of turning around the struggling planemaker.
Ortberg will navigate Boeing ( BA ) through several key
challenges including slow jet production rate, quality issues at
the planemaker and restoring confidence with regulators, the
industry and the public.
Boeing ( BA ), one of two global planemaking giants, has faced
a reputational and safety crisis after a Jan. 5 mid-air panel
blowout on a 737 MAX 9 jet, that led to the eventual resignation
of CEO Dave Calhoun.
Here is a timeline of recent issues surrounding Boeing ( BA ):
OCTOBER 2018: A Lion Air MAX plane crashes in Indonesia, killing
all 189 people on board.
NOVEMBER 2018: The FAA and Boeing ( BA ) say they are evaluating the
need for software or design changes to 737 MAX jets following
the Lion Air crash.
MARCH 2019: An Ethiopian Airlines MAX crashes, killing all 157
people on board. China's aviation regulator becomes the first in
the world to ground the MAX, followed by others including the
U.S. Federal Aviation Administration.
APRIL 2019: The FAA forms an international team to review the
safety of the 737 MAX. Boeing ( BA ) cuts monthly production by nearly
20%.
JULY 2019: Boeing ( BA ) posts its largest ever quarterly loss.
SEPTEMBER 2019: Boeing's ( BA ) board of directors creates a permanent
safety committee to oversee development, manufacturing and
operation of its aircraft.
OCTOBER 2019: Boeing ( BA ) fires Kevin McAllister, the top executive
of its commercial airplanes division.
DECEMBER 2020: The company fires CEO Dennis Muilenburg in the
wake of the twin crashes.
JANUARY 2020: Boeing ( BA ) suspends 737 production, its biggest
assembly-line halt in more than 20 years.
MAY 2020: Boeing ( BA ) resumes 737 MAX production at a "low rate."
JUNE 2020: Boeing ( BA ) begins a series of long-delayed flight tests
of its redesigned 737 MAX with regulators at the controls.
SEPTEMBER 2020: An 18-month investigation by a U.S. House of
Representatives panel finds Boeing ( BA ) failed in its design and
development of the MAX as well as its transparency with the FAA,
and that the FAA failed in oversight and certification.
NOVEMBER 2020: The U.S. FAA lifts the grounding order, allowing
the 737 MAX to fly again.
DECEMBER 2020: Congress passes legislation to reform how the FAA
certifies new airplanes, including requiring manufacturers to
disclose certain safety-critical information to the FAA.
JANUARY 2021: The European Union Aviation Safety Agency approves
the MAX's return to service in Europe.
MARCH 2021: China's aviation regulator says major safety
concerns with the MAX needed to be "properly addressed" before
conducting flight tests.
APRIL 2021: Boeing ( BA ) halts 737 MAX deliveries after electrical
problems re-ground part of the fleet.
NOVEMBER 2021: Current and former Boeing company directors reach
a $237.5 million settlement with shareholders to settle lawsuits
over safety oversight of the 737 MAX.
OCTOBER 2022: The FAA tells Boeing ( BA ) that some key documents
submitted as part of the certification review of the 737 MAX 7
are incomplete and others need a reassessment.
DECEMBER 2022: Congress agrees to extend a deadline for new
standards for modern cockpit alerts stemming from the 2020
legislation after intense lobbying from Boeing ( BA ).
APRIL 2023: Boeing ( BA ) pauses deliveries of some 737 MAXs to deal
with a new supplier quality problem involving non-compliant
fittings.
JULY 2023: Boeing's ( BA ) first delivery of the 737 MAX 7 is delayed
to 2024.
AUGUST 2023: Boeing ( BA ) identifies a new 737 MAX supplier quality
problem involving improperly drilled holes on the aft pressure
bulkhead.
SEPTEMBER 2023: Boeing 737 MAX deliveries fall to their lowest
levels since August 2021.
DECEMBER 2023: Boeing ( BA ) makes its first direct delivery of a 787
Dreamliner to China since 2019, seen as a precursor to China
potentially unfreezing deliveries of the 737 MAX.
JANUARY 2024: A mid-air cabin blowout compels Alaska Air ( ALK ) to
perform an emergency landing of its recently acquired 737 MAX 9
aircraft, prompting the FAA to ground 171 of these jets and
initiate an investigation. The FAA also bars Boeing ( BA ) from
increasing MAX output, but lifts the grounding of MAX-9s once
inspections were completed.
FEBRUARY 2024: The U.S. National Transportation Safety Board
(NTSB) published its preliminary report on the Alaska Air ( ALK )
incident involving a Boeing 737 MAX jet. According to the
investigation, the door panel that flew off the jet mid-flight
appeared to be missing four key bolts.
MARCH 2024:
** The FAA's 737 MAX production audit finds multiple
instances where Boeing ( BA ) and Spirit AeroSystems ( SPR ) allegedly
failed to comply with manufacturing quality control
requirements. This comes days after Boeing ( BA ) said it was in
preliminary talks to buy Spirit.
** The ongoing crisis may mean Boeing ( BA ) will need more time to
hit key financial targets for coming years, its CFO warns.
** Airbus clinches orders for 65 jets from two of
Boeing's ( BA ) key Asian customers, Japan Airlines ( JPNRF ) and Korean
Air.
** The U.S. planemaker says CEO Dave Calhoun will step down
and announces that Stan Deal, Boeing Commercial Airplanes
President and CEO, will be succeeded by Stephanie Pope.
MAY 2024
** The U.S. Department of Justice says Boeing ( BA )
breached
its obligations in a 2021 agreement that shielded it from
criminal prosecution over 737 MAX crashes in 2018 and 2019.
JULY 2024:
** Boeing ( BA ) acquires Spirit AeroSystems ( SPR ) back in an
all-stock deal for $4.7 billion in equity value. The deal comes
as Boeing ( BA ), which had sold Spirit in 2005 to cut costs, attempts
to solve its quality hurdles and accelerate jet deliveries.
** Boeing ( BA ) agrees to
plead guilty
to a criminal fraud conspiracy charge and pay a fine of
$243.6 million to resolve the U.S. Justice Department
investigation into the two 737 MAX fatal crashes in 2018 and
2019.
** Boeing ( BA ) names former Rockwell Collins executive
Kelly Ortberg
as its new president and CEO after a months-long search.