The CEO of Boeing, Dave Calhoun, delivered a speech to the US Senate and some of the relatives of the victims of the 2018 and 2019 deadly accidents.
Boeing’s CEO Dave Calhoun spoke in front of federal officials on Tuesday amid several safety investigations concerning the company’s planes. Calhoun gave prepared remarks before a US Senate subcommittee hearing, a crucial step for the future of the investigation.
Calhoun said in March he would resign as Boeing’s chief executive by the end of the year, navigating the company amid the federal investigations while it appoints a new CEO.
Boeing has been in the spotlight since the beginning of the year when a door was suddenly unplugged from an Alaska Airlines flight mid-air. Though luckily all passengers reached the ground alive, it shed light on Boeing’s safety practices.
Following the Alaska Airlines flight, several other accidents involving Boeing airplanes occurred. Most notably, a LATAM flight started plunging to the ground uncontrollably for a few seconds before the pilots managed to take back control of the aircraft.
The company’s top-selling model, the Boeing 737 MAX, was grounded by the Federal Aviation Agency (FAA) following two deadly accidents. In 2018, a Lion Air-operated 737 MAX crashed into the Java Sea 13 minutes after take-off, killing all 189 people on board. In 2019, an Ethiopian Airlines flight crashed into the ground 6 minutes after departure, with all 157 people losing their lives. In total, 346 people died as a result of these accidents.
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What is going on with Boeing?
Subsequent investigation found that both accidents were linked to a faulty safety system on the 737 MAX. Boeing has not yet revealed a timeline for when the issue will be resolved. Several airlines have canceled plane orders from Boeing, preferring rival Airbus instead. This led to Boeing’s sales plummeting in early 2024, exacerbating the company’s crisis.
The then-CEO of Boeing Dennis Muilenburg resigned shortly after and was replaced by Dave Calhoun.
Boeing’s stock lost almost 28% year-to-date and is the worst-performing asset traded on the S&P 500.
During his prepared remarks, Calhoun admitted that part of Boeing’s culture was wrong. “Our culture is far from perfect, but we are taking action and making progress,” he said. “We understand the gravity.”
Calhoun also spoke in front of relatives of the 2018 and 2019 victims. “We are deeply sorry for your losses,” he told them. “Nothing is more important than the safety of the people who step on board our airplanes.”
The FAA began an additional probe into Boeing’s safety standards last month. “Years of putting profits ahead of safety, stock price ahead of quality, and production speed ahead of responsibility has brought Boeing to this moment of reckoning, and its hollow promises can no longer stand,” US Senator Richard Blumenthal said ahead of the hearing.
It’s not clear how Boeing will reckon with its responsibilities. The future of the company remains as blurry as its upcoming leadership.
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