text: Boeing has been facing a strike by 30,000 machinists for over a month, adding to the pressure on the new CEO, Kelly Ortberg. The strike is estimated to be costing Boeing over $1 billion a month. The company and the union remain at an impasse, with Boeing pulling back a contract offer that workers had rejected. Despite initial optimism, negotiations have broken down and the strike could last for several more weeks.
  The strike has left unionized machinists without paychecks and health insurance, but contract work in the area may help fill the gaps. Boeing has announced plans to cut its global workforce by 10% and stop producing commercial 767 freighters in 2027, as well as delaying the delivery of its 777X until 2026. The company is facing deepening losses, with a potential downgrade to junk status by S&P Global Ratings.
  Investors are concerned as Boeing’s shares have dropped 42% this year, with analysts warning of a continuous cycle of issues including quality problems, labor relations, program execution, and cash burn. The company may be considering an equity raise of up to $15 billion to address its financial challenges.
  The instability at Boeing could impact its suppliers, with Spirit AeroSystems, Boeing’s 737 fuselage maker, considering furloughs. The ongoing crisis at Boeing may have far-reaching consequences for the aerospace industry as a whole. CEO Ortberg faces a difficult task in drumming up cash and stabilizing the company amid mounting losses.