Boeing's cash burn, CEO plane perks, and more airline news

Graphic: Images: Kevin Dietsch, Kevin Dietsch, Anna Moneymaker, Suhaimi Abdullah

Boeing is raising billions of dollars to make up for all the cash it’s been having to spend dealing with the fallout from its 737 Max problems. Outgoing CEO Dave Calhoun’s stewardship of the company in the run-up to that plane’s latest issue, a January door plug blowout on an Alaska Airlines-operated 737 Max 9, is the reason that proxy advisor Glass Lewis is suggesting shareholders remove him from the company’s board. Plus, corporate America’s c-suite titans are allegedly saving millions of dollars using corporate jets for personal travel.

Take a moment to catch up on what’s been happening in the world of airlines.

Private jets are seen on the tarmac at Friedman Memorial Airport during the Allen & Company Sun Valley Conference in 2022Photo: Kevin Dietsch (Getty Images)

It’s hardly a secret that many executives in corporate America make personal use of corporate jets. But a Wall Street Journal analysis shows that they’re doing it way more than they used to.

Boeing headquarters.Photo: Kevin Dietsch (Getty Images)

Boeing successfully raised $10 billion from public credit markets Monday, Bloomberg reports. The cash comes at a critical time when the company is still struggling to clean up the mess from its 737 Max 9 door plug blowout in January and get its production numbers back up to speed.

Outgoing Boeing CEO Dave CalhounPhoto: Anna Moneymaker (Getty Images)

Boeing CEO Dave Calhoun has already announced plans to step down at the end of the year. As a part of that plan, he had intended to stick around for a little bit after his tenure as a member of the company’s board of directors. But proxy advisor Glass Lewis doesn’t think he should stick around at all.

Embraer’s Profit Hunter aircraft, the E195-E2, is seen during the 2020 Singapore Airshow media previewPhoto: Suhaimi Abdullah (Getty Images)

If Boeing doesn’t get its act together in the next decade or so, Airbus won’t be the only plane-making competitor it will have to worry about. The Wall Street Journal reports that Brazilian manufacturer Embraer is mulling the development of a plane that could compete with Boeing’s 737 Max models.

A Spirit AeroSystems sign at the company’s facilities in Wichita, KansasPhoto: Julie Denesha (Getty Images)

One of Boeing’s big problems at the moment is that it can’t build planes as quickly as it and its customers would like. But a key supplier is teasing that it has figured out a way to help Boeing become more productive.

The wheel well of the first Boeing 737 Max 7 planePhoto: Stephen Brashear (Getty Images)

Beleaguered manufacturer Boeing needs to put together airplanes and send them to airlines. But ever since one of those planes lost a piece of its fuselage mid-flight in January, it hasn’t been able to put together planes as quickly as it or those airlines would like. But it’s still telling suppliers to keep the parts for those planes coming as fast as possible.

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