Beleaguered <a href="https://www.wionews.com/business-economy/faa-seeks-39-million-fine-from-boeing-for-defective-parts-on-737-ng-planes-266792">Boeing Co</a> is putting its future in an industry veteran who has led several companies in crisis, began his career at engine maker <a href="https://www.wionews.com/world/us-accuses-pair-of-stealing-secrets-spying-on-general-electric-to-aid-china-213103">General Electric Co</a> and has already spent a decade on the board of the world's largest planemaker.

Newly named Chief Executive David Calhoun, 62, was made Boeing's chairman two months ago, in the midst of the crisis that has rocked the company since two fatal crashes led to the grounding of its 737 MAX. It was not his first experience of navigating corporate upheaval.

Calhoun became chairman of the Caterpillar Inc board shortly after federal agents raided its headquarters in March 2017, headed a General Electric division that included airplane engines after the September&nbsp;11 attacks, and led media research company Nielsen's effort to go public. He has also been a longtime executive at Blackstone private equity group.

“Having seen him run GE's aviation business after 9/11, I know he can execute under pressure,” former GE Chief Executive Jeff Immelt told Reuters by email when asked about Calhoun, adding that Calhoun would restore customer trust in Boeing.

Calhoun, who has co-written a book on business, "How Companies Win," says being candid is part of being a leader, an approach which many critics say was absent from Boeing’s initially guarded approach to concerns about the <a href="https://www.wionews.com/business-economy/sales-of-grounded-boeing-737-max-gather-pace-at-dubai-airshow-263161">737 MAX</a>.

“The second you get into the office till the second you leave, every interaction is judged,” he said in a video published in 2014 by the Jack Welch Management Institute.

“You try to hide anything from everybody and I think your body language becomes perfectly apparent.”

Yet in his short time as Boeing chairman, Calhoun has shown his ability to work discreetly behind the scenes, as seen by his role in the departure of Kevin McAllister as chief executive of Boeing's placemaking arm in October. The removal was silent and swift, foreshadowing Muilenburg's ouster this past weekend.

Some insiders saw McAllister another GE veteran as a scapegoat for the MAX crisis. Others say he paid the price for distractions including widely publicized cracks in the company's older 737NG jets, which caught the board off guard. The 737 MAX was not impacted by the cracking issue.

The reckoning came at an informal board dinner in Texas led by Calhoun in late October. As directors wound up a two-day summit a day later, Calhoun and Muilenburg took McAllister aside and told him he was out, two people briefed on the meeting said.

In a sign that the board was already claiming a new voice under recently appointed chairman Calhoun, having split the CEO and chairman roles, the decisive dinner conversation that led to the shake-up took place without Muilenburg, the people said.

Boeing declined to comment on confidential board discussions.

McAllister and Muilenburg could not be reached.

Now, Calhoun must repair frayed relations with regulators, continue to manage a cash squeeze from the crisis and bring to market the new 777X jet at a time of tough regulatory scrutiny.

His experience on the Boeing board will allow Calhoun to "take the reins in short order without the need for a longer period of familiarization," said Timm Schulze-Melander, industrials specialist at European research house Redburn.

He also will have to face skeptics that Boeing can change, including Paul Njoroge, a Toronto-based investment professional, who lost his family in an <a href="https://www.wionews.com/world/ethiopian-airlines-boeing-737-plane-crashes-on-way-to-kenya-with-149-passengers-on-board-202327">Ethiopia Airlines</a> crash on March 10.

"Boeing needs a revamp of its corporate governance. The board should be fired,” he said, adding of Calhoun, “I don't think he is going to change the culture of Boeing."

Others are less sure.

He is a "hard-nosed" leader who does not warm to dissent but who can inspire, said an executive who worked for him at Nielsen.

“(Boeing)&nbsp;might need someone as tough as Dave. I don't think he would be a good manager over a long period of time. As a crisis manager, he might be able to get it done,” the person said.

Another executive who has encountered him called him even-handed and smart. "Boeing will come back quickly," he predicted.

Beleaguered Boeing Co is putting its future in an industry veteran who has led several companies in crisis, began his career at engine maker General Electric Co and has already spent a decade on the board of the world's largest planemaker.

Beleaguered Boeing Co is putting its future in an industry veteran who has led several companies in crisis, began his career at engine maker General Electric Co and has already spent a decade on the board of the world's largest planemaker. Newly named Chief Executive David Calhoun, 62, was made Boeing's chairman two months ago, in the midst of the crisis that has rocked the company since two fatal crashes led to the grounding of its 737 MAX. It was not his first experience of navigating corporate upheaval. Calhoun became chairman of the Caterpillar Inc board shortly after federal agents raided its headquarters in March 2017, headed a General Electric division that included airplane engines after the September 11 attacks, and led media research company Nielsen's effort to go public. He has also been a longtime executive at Blackstone private equity group. “Having seen him run GE's aviation business after 9/11, I know he can execute under pressure,” former GE Chief Executive Jeff Immelt told Reuters by email when asked about Calhoun, adding that Calhoun would restore customer trust in Boeing. Calhoun, who has co-written a book on business, "How Companies Win," says being candid is part of being a leader, an approach which many critics say was absent from Boeing’s initially guarded approach to concerns about the 737 MAX. “The second you get into the office till the second you leave, every interaction is judged,” he said in a video published in 2014 by the Jack Welch Management Institute. “You try to hide anything from everybody and I think your body language becomes perfectly apparent.” Yet in his short time as Boeing chairman, Calhoun has shown his ability to work discreetly behind the scenes, as seen by his role in the departure of Kevin McAllister as chief executive of Boeing's placemaking arm in October. The removal was silent and swift, foreshadowing Muilenburg's ouster this past weekend. Some insiders saw McAllister another GE veteran as a scapegoat for the MAX crisis. Others say he paid the price for distractions including widely publicized cracks in the company's older 737NG jets, which caught the board off guard. The 737 MAX was not impacted by the cracking issue. The reckoning came at an informal board dinner in Texas led by Calhoun in late October. As directors wound up a two-day summit a day later, Calhoun and Muilenburg took McAllister aside and told him he was out, two people briefed on the meeting said. In a sign that the board was already claiming a new voice under recently appointed chairman Calhoun, having split the CEO and chairman roles, the decisive dinner conversation that led to the shake-up took place without Muilenburg, the people said. Boeing declined to comment on confidential board discussions. McAllister and Muilenburg could not be reached. Now, Calhoun must repair frayed relations with regulators, continue to manage a cash squeeze from the crisis and bring to market the new 777X jet at a time of tough regulatory scrutiny. His experience on the Boeing board will allow Calhoun to "take the reins in short order without the need for a longer period of familiarization," said Timm Schulze-Melander, industrials specialist at European research house Redburn. He also will have to face skeptics that Boeing can change, including Paul Njoroge, a Toronto-based investment professional, who lost his family in an Ethiopia Airlines crash on March 10. "Boeing needs a revamp of its corporate governance. The board should be fired,” he said, adding of Calhoun, “I don't think he is going to change the culture of Boeing." Others are less sure. He is a "hard-nosed" leader who does not warm to dissent but who can inspire, said an executive who worked for him at Nielsen. “(Boeing) might need someone as tough as Dave. I don't think he would be a good manager over a long period of time. As a crisis manager, he might be able to get it done,” the person said. Another executive who has encountered him called him even-handed and smart. "Boeing will come back quickly," he predicted.

New Boeing boss David Calhoun is a tough-minded veteran of crisis

American Airlines Group Inc said on Sunday it is extending for a fourth time cancellations of about 115 daily flights into early November due to the ongoing grounding of the Boeing Co 737 MAX jets. The airline's decision was expected after the Federal Aviation Administration, which must reapprove the jets for flight following two fatal crashes, last month uncovered a new flaw that Boeing estimates will take until at least September to fix.

American Airlines extends Boeing 737 MAX cancellations for fourth time

Boeing Co on Tuesday said that its deliveries fell about 37% to 239 planes in the first half of 2019. Watch this video to know more.

Boeing's net orders for 2019 goes negative, deliveries falls by 37%

Boeing Co will not appeal against the US&nbsp;trade commission ruling that allows Canada&#39;s Bombardier Inc to sell its newest jets to US&nbsp;airlines without heavy duties, a Boeing spokesman said on Thursday.

The decision by Boeing puts the trade challenge to rest. A Canadian government official who spoke on condition of anonymity said Boeing&#39;s decision was &quot;good news&quot;.

The US&nbsp;International Trade Commission (ITC) unanimously voted in January to reject Boeing&#39;s complaint and discarded a Commerce Department recommendation to slap a near 300 percent duty on sales of the 110-to-130-seat Bombardier CSeries jets for five years.

The ITC had widely been expected to side with Chicago-based Boeing, the world&#39;s largest maker of jetliners, which accused Bombardier of dumping the planes, or selling them below cost, in the US&nbsp;market.

However, the ITC said it rejected placing duties on Bombardier jets partly because Boeing had lost no sales or revenue when Delta Air Lines Inc ordered the aircraft in 2016 from the Canadian planemaker.

The ITC ruled the 110-seat CSeries jets ordered by Delta and Boeing&#39;s smallest 737 MAX 7 plane do not compete.

The smaller end of the jet market is an increasing focus for the major manufacturers. Airbus SE has agreed to take a majority stake in the CSeries in a deal expected to close later this year, while Boeing is in tie-up talks with Bombardier&#39;s Brazilian rival Embraer SA.

The Boeing spokesman declined to elaborate on the decision not to appeal.

It was not yet clear how Boeing&#39;s decision will impact the planemaker&#39;s relationship with the Canadian government, which is holding a competition for fighter jets worth between C$15 billion and $C19 billion.

A Bombardier spokesman was not immediately available to comment.

A Canadian government official who spoke on condition of anonymity said Boeing's decision was "good news".

Boeing Co will not appeal against the US trade commission ruling that allows Canada's Bombardier Inc to sell its newest jets to US airlines without heavy duties, a Boeing spokesman said on Thursday. The decision by Boeing puts the trade challenge to rest. A Canadian government official who spoke on condition of anonymity said Boeing's decision was "good news". The US International Trade Commission (ITC) unanimously voted in January to reject Boeing's complaint and discarded a Commerce Department recommendation to slap a near 300 percent duty on sales of the 110-to-130-seat Bombardier CSeries jets for five years. The ITC had widely been expected to side with Chicago-based Boeing, the world's largest maker of jetliners, which accused Bombardier of dumping the planes, or selling them below cost, in the US market. However, the ITC said it rejected placing duties on Bombardier jets partly because Boeing had lost no sales or revenue when Delta Air Lines Inc ordered the aircraft in 2016 from the Canadian planemaker. The ITC ruled the 110-seat CSeries jets ordered by Delta and Boeing's smallest 737 MAX 7 plane do not compete. The smaller end of the jet market is an increasing focus for the major manufacturers. Airbus SE has agreed to take a majority stake in the CSeries in a deal expected to close later this year, while Boeing is in tie-up talks with Bombardier's Brazilian rival Embraer SA. The Boeing spokesman declined to elaborate on the decision not to appeal. It was not yet clear how Boeing's decision will impact the planemaker's relationship with the Canadian government, which is holding a competition for fighter jets worth between C$15 billion and $C19 billion. A Bombardier spokesman was not immediately available to comment.

Boeing will not appeal trade case against Bombardier: Spokesman

Boeing Co said on Tuesday it delivered an industry-record 763 jetliners in 2017, beating European rival Airbus SE to retain the title of world&#39;s biggest plane maker.

Boeing also booked 912 net new aircraft orders worth $134.8 billion at list prices last year, compared with 668 worth about $94 billion in 2016.

Airbus was on track last month to rack up more than 1,000 gross new orders for the year, excluding cancellations, compared with the 1,053 gross orders Boeing announced on Tuesday.

The tallies confer more than just bragging rights; they show the companies&#39; ability to run factories smoothly, make sales and generate profit.

Boeing shares were up 2.9 percent at $319.16 on Tuesday afternoon. The stock has nearly doubled in the past year.

Industry sources say Airbus, which will report 2017 orders and deliveries on Jan. 15, met its target of delivering more than 700 jetliners, despite problems with Pratt &amp; Whitney &lt;UTX.N&gt; Geared Turbofan engines.

Airbus&#39; total is still unlikely to match Boeing&#39;s. The European firm cut its forecast from more than 720 jets in October due to delays in engine deliveries.

Boeing&#39;s orders and deliveries confirmed the plane maker&#39;s ability to hit rising production rates. This could mean an additional &quot;$350 million in revenues versus our forecast,&quot; said Sheila Kahyaoglu, the analyst at Jefferies.

Boeing also said airlines likely will need more aircraft in 2018, keeping production rates rising.

The company expects airlines to boost passenger capacity by 5.5 percent to 6 percent this year, Randy Tinseth, Boeing vice president of marketing, said on a conference call.

With airlines already flying full aeroplanes, more aircraft will be needed. &quot;We&#39;re expecting growth to be driven by new deliveries, not by more capability out of the existing fleet,&quot; he said.

Price targets for Boeing&#39;s stock are rising. The median is now $310 a share, up from $293.50 in October. Some targets are as high as $380. Still, 12 analysts rate it a &quot;hold&quot; compared with 13 with &quot;buy&quot; or &quot;strong buy&quot; ratings, according to Thomson Reuters data.

Meanwhile, air cargo traffic is rising, but a sustained gain could arrive too late to rescue Boeing&#39;s 747 aircraft.

Boeing has 12 backlogged orders for 747s, about two years&#39; production. Tinseth said air cargo companies are interested.

&quot;The question is when will they be in a position to buy,&quot; he said. &quot;They want to make sure that (demand is) sustained.&quot;

Boeing shares were up 2.9 percent at $319.16 on Tuesday afternoon. The stock has nearly doubled in the past year.

Boeing Co said on Tuesday it delivered an industry-record 763 jetliners in 2017, beating European rival Airbus SE to retain the title of world's biggest plane maker. Boeing also booked 912 net new aircraft orders worth $134.8 billion at list prices last year, compared with 668 worth about $94 billion in 2016. Airbus was on track last month to rack up more than 1,000 gross new orders for the year, excluding cancellations, compared with the 1,053 gross orders Boeing announced on Tuesday. The tallies confer more than just bragging rights; they show the companies' ability to run factories smoothly, make sales and generate profit. Boeing shares were up 2.9 percent at $319.16 on Tuesday afternoon. The stock has nearly doubled in the past year. Industry sources say Airbus, which will report 2017 orders and deliveries on Jan. 15, met its target of delivering more than 700 jetliners, despite problems with Pratt & Whitney <UTX.N> Geared Turbofan engines. Airbus' total is still unlikely to match Boeing's. The European firm cut its forecast from more than 720 jets in October due to delays in engine deliveries. Boeing's orders and deliveries confirmed the plane maker's ability to hit rising production rates. This could mean an additional "$350 million in revenues versus our forecast," said Sheila Kahyaoglu, the analyst at Jefferies. Boeing also said airlines likely will need more aircraft in 2018, keeping production rates rising. The company expects airlines to boost passenger capacity by 5.5 percent to 6 percent this year, Randy Tinseth, Boeing vice president of marketing, said on a conference call. With airlines already flying full aeroplanes, more aircraft will be needed. "We're expecting growth to be driven by new deliveries, not by more capability out of the existing fleet," he said. Price targets for Boeing's stock are rising. The median is now $310 a share, up from $293.50 in October. Some targets are as high as $380. Still, 12 analysts rate it a "hold" compared with 13 with "buy" or "strong buy" ratings, according to Thomson Reuters data. Meanwhile, air cargo traffic is rising, but a sustained gain could arrive too late to rescue Boeing's 747 aircraft. Boeing has 12 backlogged orders for 747s, about two years' production. Tinseth said air cargo companies are interested. "The question is when will they be in a position to buy," he said. "They want to make sure that (demand is) sustained."

Boeing delivered more Jetliners than ever in 2017

India has signed a billion-dollar deal with Boeing to buy four maritime surveillance planes, defence and aviation sources said Wednesday, as it looks to counter China in the Indian Ocean. 
 
The deal for four P-8I aircraft follows India&#39;s earlier purchase of eight of the planes from the American aerospace giant in 2009. 
 
&quot;The deal has been signed. The delivery dates are being worked out,&quot; a defence ministry source told AFP, adding that the deal was worth more than a billion dollars. 
 
India has already deployed its original eight long-range P-8I aircraft to track submarine movements in the Indian Ocean. 
 
The navy is looking to beef up its fleet to strengthen its capabilities against submarines and surface ships. 
 
&quot;India has a vast maritime border and these planes are meant for long-range surveillance,&quot; a Boeing official told AFP, adding that a clause in the earlier agreement provided for New Delhi to purchase four more planes. 
 
&quot;The navy will likely deploy them in the Indian Ocean and Bay of Bengal to counter Chinese influence in the seas,&quot; the official said. 
 
India, the world&#39;s number one defence importer, is in the midst of a multi-billion dollar upgrade of its Soviet-era military hardware. 
 
The country has signed several big-ticket defence deals since Prime Minister Narendra Modi&#39;s Bharatiya Janata Party stormed to power in 2014. 
 
Other deals have been mired in bureaucratic wrangles, however, notably the agreement to buy 36 Rafale fighter jets from France&#39;s Dassault Aviation which has been pending since 2012. 
 
Modi&#39;s government has raised the limit on foreign investment in the defence sector and encouraged tie-ups between foreign and local companies. 
 
Modi has also called for the manufacturing of defence equipment locally and cut down reliance on expensive imports. 
 
(AFP) 
&nbsp;

The P-8I Poseidons will help India bolster its navy as New Delhi tries to check China's presence in the Indian Ocean

India has signed a billion-dollar deal with Boeing to buy four maritime surveillance planes, defence and aviation sources said Wednesday, as it looks to counter China in the Indian Ocean. The deal for four P-8I aircraft follows India's earlier purchase of eight of the planes from the American aerospace giant in 2009. "The deal has been signed. The delivery dates are being worked out," a defence ministry source told AFP, adding that the deal was worth more than a billion dollars. India has already deployed its original eight long-range P-8I aircraft to track submarine movements in the Indian Ocean. The navy is looking to beef up its fleet to strengthen its capabilities against submarines and surface ships. "India has a vast maritime border and these planes are meant for long-range surveillance," a Boeing official told AFP, adding that a clause in the earlier agreement provided for New Delhi to purchase four more planes. "The navy will likely deploy them in the Indian Ocean and Bay of Bengal to counter Chinese influence in the seas," the official said. India, the world's number one defence importer, is in the midst of a multi-billion dollar upgrade of its Soviet-era military hardware. The country has signed several big-ticket defence deals since Prime Minister Narendra Modi's Bharatiya Janata Party stormed to power in 2014. Other deals have been mired in bureaucratic wrangles, however, notably the agreement to buy 36 Rafale fighter jets from France's Dassault Aviation which has been pending since 2012. Modi's government has raised the limit on foreign investment in the defence sector and encouraged tie-ups between foreign and local companies. Modi has also called for the manufacturing of defence equipment locally and cut down reliance on expensive imports. (AFP)

India orders 4 more maritime spy planes from Boeing worth $1 billion

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