Boeing announced on Wednesday that it has recorded another $250 million loss on its troubled Starliner project. This brings the total losses on the program to date to $1.85 billion. The latest charge is due to schedule delays and increased testing and certification costs.
In June, Boeing’s Starliner successfully docked at the International Space Station during a crewed flight test. However, the mission faced significant challenges, including issues with the thrusters and helium leaks, which extended the eight-day mission. The spacecraft returned to Earth without its crew members, NASA astronauts Butch Wilmore and Suni Williams.
These astronauts are now scheduled to fly on a SpaceX spacecraft in February 2025.
Boeing’s Starliner struggles persist
Boeing’s newly appointed CEO, Kelly Ortberg, who assumed his role in August, did not directly comment on the Starliner program during an earnings call held on Wednesday.
However, Ortberg emphasized the difficulty of dealing with some of Boeing’s substantial contracts, stating that there is “no magic bullet” for resolving these issues. When asked about potentially abandoning any loss-making contracts, Ortberg responded that it was not a viable option for the company given the importance of their core customers. This latest setback is just one of many challenges Boeing faces.
The company has been under scrutiny for its safety and quality practices, especially following issues with the Boeing 737 Max 9 and whistleblower concerns. Additionally, Boeing’s workforce has been on strike since mid-September, rejecting several wage increase proposals. Boeing reported a loss of more than $1.4 billion in the third quarter of 2024, with its shares plummeting nearly 40% year to date.
