Boeing May Divest Its Space Operations – WSJ
According to a report from the Wall Street Journal, Boeing Corporation might consider divesting its space projects, which could potentially encompass its Starliner program. Read Full Article at RT.com
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Boeing is reportedly considering selling its NASA division, which includes the troubled Starliner program and support operations for the International Space Station, according to a report in The Wall Street Journal on Friday. Sources familiar with the discussions indicate that the company will likely maintain involvement in certain space-related projects, particularly the Space Launch System (SLS). This super-heavy expendable launch vehicle, vital to NASA's Moon exploration efforts, successfully completed its first flight two years ago. However, its production has been plagued by various issues and quality control challenges.
The Starliner spacecraft, designed to transport crews of up to seven to and from the ISS, may be among the projects that are sold off. Originally set to become operational in 2017, the Starliner has faced repeated delays due to engineering and management issues. The most recent crew flight test in June ended in partial failure when the spacecraft’s thrusters malfunctioned during its approach to the ISS, leading to the decision to return it to Earth uncrewed in September.
The potential divestiture of space-related assets aligns with the strategic plan of Boeing's new CEO, Kelly Ortberg. He aims to streamline the company and reduce financial losses. Notably, discussions with potential buyers, including Jeff Bezos' Blue Origin, began before Ortberg's appointment in August.
During a recent call with analysts and investors, Ortberg underscored the need for significant change within the corporation. While maintaining military and commercial aircraft production as core operations, he mentioned the possibility of moving away from "some things on the fringe." He emphasized the challenges ahead, stating, "It’s going to take a lot of work. We’re not going to be able to just wave a wand and clean up these troubled contracts. We signed up to some things that are problematic," adding that Boeing would be "better off doing less and doing it better than doing more and not doing it well."
Boeing's ongoing financial struggles have been driven by repeated cost overruns and delays in its defense and space projects, while airliner production has stalled due to a weeks-long machinists' strike.
Sanya Singh contributed to this report for TROIB News
The Starliner spacecraft, designed to transport crews of up to seven to and from the ISS, may be among the projects that are sold off. Originally set to become operational in 2017, the Starliner has faced repeated delays due to engineering and management issues. The most recent crew flight test in June ended in partial failure when the spacecraft’s thrusters malfunctioned during its approach to the ISS, leading to the decision to return it to Earth uncrewed in September.
The potential divestiture of space-related assets aligns with the strategic plan of Boeing's new CEO, Kelly Ortberg. He aims to streamline the company and reduce financial losses. Notably, discussions with potential buyers, including Jeff Bezos' Blue Origin, began before Ortberg's appointment in August.
During a recent call with analysts and investors, Ortberg underscored the need for significant change within the corporation. While maintaining military and commercial aircraft production as core operations, he mentioned the possibility of moving away from "some things on the fringe." He emphasized the challenges ahead, stating, "It’s going to take a lot of work. We’re not going to be able to just wave a wand and clean up these troubled contracts. We signed up to some things that are problematic," adding that Boeing would be "better off doing less and doing it better than doing more and not doing it well."
Boeing's ongoing financial struggles have been driven by repeated cost overruns and delays in its defense and space projects, while airliner production has stalled due to a weeks-long machinists' strike.
Sanya Singh contributed to this report for TROIB News
