Emirates CEO Tells Boeing To 'Get Your Act Together' As David Calhoun Set To Step Down Amid Safety Crisis And Delivery Delays
Portfolio Pulse from Benzinga Neuro
Emirates CEO Sheikh Ahmed bin Saeed Al Maktoum expressed dissatisfaction with Boeing (NYSE:BA) over safety crises and delivery delays, as Boeing's CEO David Calhoun announces retirement amid these challenges. Despite frustrations, Emirates, Boeing's largest customer for widebody jets, has not indicated plans to cancel or switch its substantial orders to Airbus. Boeing faces its worst crisis since the 737 Max jet crashes, with recent audits revealing non-compliance in manufacturing quality control. Amidst this, Boeing's stock saw a slight decline.
May 07, 2024 | 2:35 pm
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Boeing faces criticism from Emirates, its largest customer, over delivery delays and safety issues, with CEO David Calhoun announcing retirement amid these challenges. The company is under scrutiny for non-compliance in manufacturing quality control.
The public criticism from Emirates, a major customer, combined with the retirement of CEO David Calhoun during a period of intense scrutiny and manufacturing challenges, is likely to negatively impact investor confidence and Boeing's stock price in the short term. The ongoing safety and delivery issues, highlighted by recent FAA audits, further exacerbate the situation, making a negative impact on the stock more probable.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100