Boeing Faces Turbulence: CEO Battles Strikes Amid Billion-Dollar Loss

Boeing reported a $6 billion loss in Q3 amidst ongoing union strikes. New CEO Kelly Ortberg prioritizes cultural change and improved labor relations to rebuild its legacy. The outcome of a crucial vote by machinists on a new contract offer could impact Boeing's production and financial strategies.

Boeing is navigating through severe financial and operational challenges as it reported a loss of over $6 billion in the third quarter. The aviation giant's newly appointed CEO Kelly Ortberg faces a crucial test with ongoing strikes by machinists adding to the turmoil.

Ortberg outlined a vision for cultural transformation and stronger labor relations, amidst large layoffs and financial pressures. A pivotal vote by union workers on a new contract offer looms, with Boeing's capacity to resume production hinging on the outcome.

The proposal includes significant pay raises and bonuses, but not a reinstatement of traditional pension benefits, leading to mixed reactions among workers. The decision could dictate Boeing's ability to recover its reputation and financial standing in the coming years.

(With inputs from agencies.)