Boeing Company - BA STOCK NEWS

Boeing (NYSE: BA) has secured a follow-on contract with the U.S. Department of Defense, valued at up to $23.8 billion over ten years, to ensure the mission readiness of the C-17 Globemaster III. The initial Phase I award totals $3.5 billion and funds sustainment activities for a fleet of 275 aircraft until September 2024. This performance-based logistics contract aims to lower costs while enhancing operational efficiency through innovative analytics and engineering services, demonstrating Boeing's commitment to maintain high mission-capability rates.

Boeing (NYSE: BA) has pledged $1 million for disaster recovery following Hurricane Ida, comprising a $500,000 donation to the American Red Cross for immediate relief in Louisiana and the Northeast. The remaining funds will support local organizations for cleanup and recovery, including the Greater New Orleans Foundation and World Central Kitchen. Boeing's commitment aligns with its ongoing support for affected communities, having donated over $8.7 million in the last five years and $1.6 million to prior hurricane relief efforts since 2012.

The Boeing Company has appointed Ziad S. Ojakli as the new executive vice president of government operations, effective October 1, 2021. Ojakli succeeds Marc Allen, who served as interim since June. He brings a rich background in public policy and government relations from roles at Softbank and Ford Motor Company, where he led global initiatives. Ojakli will lead Boeing’s public policy efforts and report directly to David Calhoun, the company’s president and CEO. This leadership change aims to enhance Boeing’s engagement with stakeholders while underscoring its commitments to safety and transparency.

The Boeing Company announced a total donation of $1.4 million focused on humanitarian relief for Afghan allies and support for U.S. military veterans. Key beneficiaries include CARE, No One Left Behind, and USO, among others, to aid Afghan interpreters and veterans' families. Additionally, Boeing pledged $400,000 to organizations honoring the 20th anniversary of 9/11. The initiatives reflect Boeing's commitment to rehabilitation efforts for veterans and their families, emphasizing the importance of honoring military service members.

Boeing's 2021 Market Outlook forecasts a $9 trillion aerospace market over the next decade, an increase from $8.5 trillion the previous year. The Commercial Market Outlook projects a demand for 19,000 commercial airplanes valued at $3.2 trillion in the next 10 years. Boeing expects a growing demand for dedicated freighters due to e-commerce and forecasts that the commercial fleet will exceed 49,000 airplanes by 2040. The Defense and Space sector is projected to remain stable at $2.6 trillion over the decade.

Boeing (NYSE: BA) has appointed Matt Welch as the new vice president of Investor Relations, effective immediately. Welch takes over from Maurita Sutedja, who has left Boeing after over a decade. With more than 20 years of financial expertise at Boeing, Welch's previous roles include vice president of Revenue Management at Boeing Commercial Airplanes. His leadership is expected to enhance Boeing's communication with shareholders and financial analysts, emphasizing a commitment to transparency and accurate information about the company’s performance and market outlook.

The Boeing Company (NYSE: BA) announced the election of David L. Joyce to its board of directors effective immediately, where he will serve on the Aerospace Safety and Compensation committees. Joyce, a former vice chair and CEO of GE Aviation, brings extensive aerospace experience and a strong focus on safety and operational excellence. Concurrently, Admiral Edmund P. Giambastiani Jr. will retire from the board at the end of 2021 after serving since 2009, making significant contributions to product safety and national security.

Millennium Space Systems, a Boeing company, successfully demonstrated deployable tether technology to expedite satellite deorbiting, addressing potential congestion in low Earth orbit. The Dragracer program revealed that satellites using the 70m Terminator Tape can deorbit in just eight months versus a minimum of seven years for those without it. This lightweight solution increases drag to hasten reentry, thus mitigating space debris. Developed in nine months and launched in November 2020, the program involved collaborations with Tethers Unlimited, TriSept, and Rocket Lab.

Boeing [NYSE: BA] has announced a $500,000 donation to support COVID-19 relief efforts in Indonesia, facilitated through CARE. This funding will enhance local health facilities and provide essential equipment such as negative pressure tents and PPE for healthcare workers. Boeing will also match employee donations as part of its Gift Match program. The donation aims to address the urgent health crisis, as less than 11% of the population is fully vaccinated. Boeing's commitment to Indonesia spans over 70 years and includes over $2.8 million contributed in the past decade.