
Boeing restructures military and space business
Boeing is forced to take action due to significant financial losses in its military and space business. After repeated problems with the Starliner spacecraft and difficulties with armaments projects, new CEO Kelly Ortberg has replaced division head Ted Colbert. Steve Parker, previously responsible for operations, will take over as acting head. The Starliner had serious technical problems on its first manned flight, including engine malfunctions and helium leaks, which led NASA to return the capsule to Earth without astronauts. Astronaut Suni Williams and astronaut Barry Wilmore will now remain on the International Space Station ISS until February while they wait to be brought back by the SpaceX Crew Dragon spacecraft. In addition, Boeing is struggling with high cost overruns in the conversion of two 747 jumbo jets for the US President and the KC-46 tanker aircraft. In the last quarter, the military and space division reported an operating loss of around one billion dollars. The problems are further exacerbated by a strike by Boeing's largest union, which represents 33.000 workers.