Boeing CEO Admits Serious Missteps in Senate Hearing

Boeing CEO Kelly Ortberg testified before the U.S. Senate, admitting the company has made 'serious missteps' in safety and production, including a significant incident last January involving a door plug that blew out mid-flight on an Alaska Airlines 737 MAX 9. During the hearing, titled 'Safety First: Restoring Boeing's Status as a Great American Manufacturer,' Ortberg denied that production pressures were affecting worker safety, but acknowledged a lax safety culture. He outlined the company's commitment to reforming its internal processes and enhancing oversight in response to past failures, including two fatal 737 MAX crashes in 2018 and 2019 that resulted in a loss of 346 lives. Despite these reassurances, Senator Ted Cruz expressed concerns about Boeing's ability to maintain safety standards, highlighting unacceptable production practices. Ortberg emphasized ongoing changes aimed at restoring trust among employees and regulators, as the company continues to face scrutiny from the FAA and a looming criminal trial related to its previous safety practices. Investors remain cautiously optimistic but are closely monitoring Boeing's efforts to balance safety improvements with financial performance amid ongoing market volatility.