U.S. President Donald Trump said on Wednesday he was not happy with planemaker Boeing and his administration might have to go a different route with Air Force One planes.
Boeing (BA -0.55%) has been plagued with challenges hurting its ability to build and sell planes.
The Air Force One program may be further delayed until 2029 or years later, a senior administration official said, citing supply chain issues and changing requirements, after the White House highlighted delays in the project over the weekend.
CNBC Marathon explores the different struggles the aircraft company Boeing, has faced these past couple of years. Boeing's 747 is one the most recognizable planes to take to the skies with its iconic hump, four engines, extensive landing gear and sheer size.
Boeing shows promising signs of a turnaround, with January deliveries reaching the highest point since December 2023, despite expected dips in February. January orders included 36 airplanes valued at $2.1 billion, with no cancellations, indicating a stable order book and backlog. Boeing delivered 45 airplanes in January, a 66% volume increase and a 75% value increase compared to the previous year, suggesting a more attractive value mix.
President Donald Trump toured a Boeing plane on Saturday to highlight delays in delivering new Air Force One aircraft, said the White House.
Boeing CEO Kelly Ortberg will testify on April 2 before the U.S. Senate Commerce Committee, the panel's chair, Republican Senator Ted Cruz, said on Friday.
U.S.-based hedge fund Viking Global built a $526 million-worth new position in planemaker Boeing in the fourth quarter, with 2.9 million shares, a regulatory filing showed on Friday.
U.S. Transportation Secretary Sean Duffy said on Thursday he has asked the CEO of Boeing to come to Washington, D.C., "as soon as possible" to discuss quality and safety issues at the company.
The chief executive of major Boeing customer Avolon said on Thursday he was really encouraged by progress being made by the U.S. manufacturer in stabilising production in the wake of a seven-week strike late last year.
Air India [RIC:RIC:AIRID.UL] is holding off on exercising its outstanding options to buy additional Boeing jets, its Chief Executive Campbell Wilson told Reuters on Wednesday, until the planemaker has cleared its backlog.
Despite a miserable 2024, Boeing (BA -0.06%) stock has quietly run up 23.5% over the last three months. Is the start of an ongoing move upward or merely a recovery from an oversold position?