Aircraft lessor Avolon says Boeing has “lost its way.”
The head of the world’s second-largest aircraft leasing company said Thursday that Boeing had “lost its way” and may need new leadership to fix a company culture that had become “totally warped.”
The comments by Avolon CEO Domhnal Slattery represented a rare public rebuke of Boeing by a major customer, Reuters reported.
→ Boeing 787 deliveries to resume second-half 2022.
“I think it’s fair to say that Boeing has lost its way,” Slattery told the Airfinance Journal conference in Dublin, a gathering of the world’s aircraft lessors.
“Boeing needs to fundamentally reimagine its strategic relevance in the marketplace. This would require a new vision, perhaps new leadership.”
Boeing shares fell last week to their lowest level in nearly a year and a half after the U.S. aircraft maker posted quarterly losses, disclosed $2.7 billion in charges and added costs and expressed doubts about meeting 737 MAX delivery targets.
→ Virgin Australia to add 4 Boeing 737 MAX 8 jets.
Boeing also announced it was halting production of the 777X until 2023 and did not specify when it would resume deliveries of its key 787 Dreamliner twin-aisle model.
“They are burning cash at an unprecedented level,” Slattery said.
Boeing’s culture has become “totally twisted,” but that the problems could eventually be resolved. I have faith that they will work it out,” Slattery added.
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