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Boeing considering selling space business

  • October 26, 2024
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Boeing is considering selling its space business, including its troubled Starliner, the Wall Street Journal reports. This decision may have to do with new CEO Kelly Ortberg’s desire


Boeing is considering selling its space business, including its troubled Starliner, the Wall Street Journal reports. This decision may have to do with new CEO Kelly Ortberg’s desire to improve the struggling company’s finances.


Boeing is exploring the possibility of selling its NASA business, which includes the Starliner spacecraft, which suffered major malfunctions during its test mission to the ISS, sources said. A Boeing representative declined to comment on the report, saying the company “does not comment on market rumors and speculation.”

CEO Kelly Ortberg, who joined in August, has previously said Boeing was reviewing the company’s operations to narrow its profile. “It’s better for Boeing to do less, but better than to do more and not do it well,” Ortberg said on a conference call with analysts tracking the company’s financial results. While Ortberg did not outline Boeing’s plans to cut its space program, he noted that commercial aircraft and defense are “core” products that will “stay at Boeing forever.”

The announcements came after Boeing reported a massive $6.2 billion loss, due in part to a six-week strike by Seattle-area workers that closed two assembly plants. Also Wednesday, the machinery manufacturers’ union rejected Boeing’s latest contract offer, further clouding the company’s prospects.

Boeing has been working closely with NASA for years, but the company’s space program has experienced major setbacks in recent years. After numerous delays, Starliner was launched in June on what was expected to be a test mission lasting about a week. However, unexpected engine failures and a helium leak en route to the ISS derailed these plans, and in September NASA decided to return the two astronauts safely to the SpaceX ship.

Source: Port Altele

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