How Kelly Ortberg Is Piloting Boeing from Crisis to Cash
Less than a year after coming out of retirement, Kelly Ortberg stepped in as CEO of Boeing in August 2024 amid turmoil—deep financial losses, reputational damage, and a fractured corporate culture. Ten months into his mandate, he’s steering the company through a critical transformation:
🔧 Stabilizing finances & boosting production
- Ortberg managed to stabilize Boeing’s finances, increased 737 MAX deliveries to ~38 per month—the first stable rate since the MAX crisis—and shares have climbed ~22% since January 2025 .
- Yet Boeing still expects to burn cash through at least 2025 and is working to turn free cash flow positive in the second half of the year.
🤝 Rebuilding trust with regulators, suppliers & employees
- He’s focused on regaining credibility with the FAA, rebuilding frayed supply chain relations, and addressing a culture of fear and inefficiency.
- A recent internal survey showed pride among employees dropped from 91% in 2013 to just two-thirds today—Ortberg is responding with new corporate values and direct engagement on the shop floor.
💼 Strategic portfolio reshaping
- Boeing is divesting non-core assets like Jeppesen and ForeFlight to raise ~$10.5 billion, aiming for focused, leaner operations.
- Ortberg emphasized that “pruning the portfolio, not cutting down the tree,” will support sustainable recovery.
⏳ A turnaround effort spanning years
- While analysts note early signs of recovery, they caution that Boeing remains on “fragile ground” and must sustain quality, safety, and trust.
- Ortberg himself warns the transformation is a “multiyear” project—not a quick fix .
