STOCK TITAN

Boeing Announces Scholarships for Pilot Training

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
Boeing is investing $950,000 in scholarships for pilot training to meet long-term demand for commercial airplane pilots. They are donating $500,000 to fund 25 scholarships with five aviation organizations and $450,000 to Fly Compton, a nonprofit in Los Angeles. Boeing projects a need for 602,000 new pilots over the next 20 years.
Positive
  • Boeing is investing $950,000 in scholarships for pilot training.
  • Boeing is donating $500,000 to fund 25 scholarships with five aviation organizations.
  • Boeing is donating $450,000 to Fly Compton to increase flight training classes for minority youth in Los Angeles.
  • Boeing projects a need for 602,000 new pilots over the next 20 years.
Negative
  • None.

ARLINGTON, Va., July 24, 2023 /PRNewswire/ -- Boeing [NYSE: BA] is investing $950,000 in scholarships for pilot training to grow and diversify talent required to meet significant long-term demand for commercial airplane pilots.

Boeing is donating $500,000 to fund 25 scholarships with five aviation organizations committed to developing future pilots, including:

Boeing is also donating $450,000 to Fly Compton, a Los Angeles-based nonprofit that introduces minority youth to career opportunities in aerospace. This investment will increase flight training classes offered to students in L.A.'s Compton community and introduce career topics related to designing, building and maintaining airplanes and drones. 

"The demand for qualified and diverse pilots remains high at airlines worldwide. While becoming a pilot provides a lifelong career, access to training remains a barrier to entry for many," said Ziad Ojakli, executive vice president of Government Operations at Boeing. "These organizations are helping the next generation of pilots realize their full potential while also showing communities that are historically underrepresented in the industry that a future in aviation is possible."

Long-term demand for newly qualified aviation personnel remains strong. Boeing projects 602,000 new pilots will be needed to fly and maintain the global commercial fleet over the next 20 years. Boeing will release its latest Pilot and Technician Outlook on July 25.  

"We are seeing more women and individuals from diverse backgrounds entering the pilot profession because of the mentorship and guidance that aviation organizations like these provide for early career professionals," said Chris Broom, vice president of Commercial Training Solutions for Boeing Global Services. "The work they're doing to implement changes needed to remove social and financial barriers to entry are critical." 

Since 2019, Boeing has invested more than $8.5 million to bring pilot training programs to underrepresented populations in communities across the United States. 

Here are comments from organizations receiving Boeing funding:

Mark Baker, president and CEO of Aircraft Owners and Pilots Association: "The aviation community is all about partnerships and coming together around the shared goal of protecting and growing our passion for flight. This collaboration is a true embodiment of that spirit and supports our mission of getting more people into the skies."   

Demetrius Harris, Fly Compton president and executive director: "We are grateful for the tremendous support from our partners at Boeing. They continue to demonstrate an unwavering commitment to breaking down barriers for minority youth within the aviation industry. At Fly Compton, we know that lack of exposure, access to resources and the high cost of flight training prevents underrepresented populations from exploring careers in aviation. We focus on eliminating these barriers to entry, and this funding package from Boeing helps us continue this important work." 

Claudia Zapata-Cardone, Latino Pilots Association president: "It brings us great joy that Boeing has provided these scholarships to our members. This award allows us to help them achieve their dreams of flight by eliminating the financial barriers associated with training. We look forward to growing and continuing our work with Boeing and LPA, so all our members can access a profession that otherwise would be unattainable." 

Samantha Whitfield, Organization of Black Aerospace Professionals executive director: "Funding flight training is often one of the greatest barriers for students of color pursuing a pilot career. Scholarship partners like Boeing provide the much-needed support to fuel the careers of aspiring aviators. OBAP is proud to join forces with Boeing as we seek to diversify the aerospace workforce now and in the future." 

Stephanie Grant, Sisters of the Skies board member and development director and a United Airlines first officer: "Sisters of the Skies is an organization of professional black female pilots committed to improving scholarship opportunities, mentorship, professional development, and outreach. Being able to support our members through scholarships like this helps offset the high cost of flight school and ultimately see these women become professional pilots. With less than 200 Black female commercial airline pilots nationwide, we remain focused on increasing this number through the pillars of our mission."  

Stephanie Kenyon, Women in Aviation International interim CEO: "WAI members appreciate the longtime scholarship support from The Boeing Company. This year during our WAI2023 conference in Long Beach, California, Boeing provided scholarships for career enhancement, manufacturing skills and flight training. We know that scholarships change lives and provide our members with the financial resources to continue pursuing their aviation/aerospace dreams. As a nonprofit organization, WAI is thankful for Boeing's commitment to help train the next generation of female aviators." 

As a leading global aerospace company, Boeing develops, manufactures and services commercial airplanes, defense products and space systems for customers in more than 150 countries. As a top U.S. exporter, the company leverages the talents of a global supplier base to advance economic opportunity, sustainability and community impact. Boeing's diverse team is committed to innovating for the future, leading with sustainability, and cultivating a culture based on the company's core values of safety, quality and integrity. Join our team and find your purpose at boeing.com/careers

Contact:
Jennifer Non
Boeing Communications
+1 (571) 344-2619
jennifer.c.non@boeing.com

Boeing Media Relations
media@boeing.com

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/boeing-announces-scholarships-for-pilot-training-301883605.html

SOURCE Boeing

FAQ

What is Boeing investing in?

Boeing is investing $950,000 in scholarships for pilot training.

How much is Boeing donating to fund scholarships?

Boeing is donating $500,000 to fund 25 scholarships with five aviation organizations.

Who is Boeing donating to?

Boeing is donating $500,000 to fund scholarships with the Aircraft Owners and Pilots Association, Latino Pilots Association, Organization of Black Aerospace Professionals, Sisters of the Skies, and Women in Aviation International. They are also donating $450,000 to Fly Compton.

What is Fly Compton?

Fly Compton is a Los Angeles-based nonprofit that introduces minority youth to career opportunities in aerospace.

How many new pilots does Boeing project will be needed in the next 20 years?

Boeing projects a need for 602,000 new pilots over the next 20 years.

Boeing Company

NYSE:BA

BA Rankings

BA Latest News

BA Stock Data

134.18B
747.31M
0.1%
55.72%
3.01%
Aerospace & Defense
Aircraft
Link
United States of America
ARLINGTON