Staff Reports
Boeing, the big airplane-making company, is in for some trouble, folks. It seems like they just can’t catch a break. Their money leader, CFO Brian West, told investors that the company is gonna need to spend even more money than they thought in the first part of this year. We’re talkin’ a whopping $4 billion to $4.5 billion! And that’s a lot more than they thought they’d have to spend, let me tell ya.
Boeing CFO says company will spend more than expected on security fixes following quality concerns https://t.co/2TcxKK01hd https://t.co/2TcxKK01hd
— Washington Examiner (@dcexaminer) March 21, 2024
The smart folks who watch all this money stuff were thinkin’ Boeing would have about $1 billion less cash at the start of the year, but now they’re sayin’ it’s gonna be more like $5 billion extra cash! That’s a whole lot of dough, and not in a good way.
The company’s stock took a tumble after some problems with Alaska Airlines, and it never really bounced back from two big plane crashes a few years back. And now, with all the lawsuits and delays, Boeing’s in for a tough road ahead.
See, the big boss man at Boeing says they’re gonna slow things down to make sure they get it right this time. They’re gonna make fewer planes and take more time to do it, which means they won’t be raking in the money like they used to. And the company probably won’t hit its goal of $10 billion in cash flow until way later than they planned. That’s not good news for Boeing, I’ll tell ya that much.
But wait, there’s more! The government’s been poking around too, lookin’ into the quality of Boeing’s planes. The National Transportation Safety Board, the Department of Justice, and even the Federal Aviation Administration have all been checkin’ things out. The FAA folks are especially serious, warnin’ Boeing that they better make safe planes or they’ll have to slow down production big time. And get this, the FAA found that Boeing failed a whole bunch of safety checks and saw employees using things like dish soap and hotel key cards to put the planes together. That’s not the kinda stuff you wanna hear about a big airplane company, folks.
So there you have it, Boeing’s in some hot water and it doesn’t look like things will be smooth flyin’ anytime soon. But hey, maybe they’ll turn things around, who knows? Only time will tell!
