Despite the door plug accident, Boeing remains determined to recover a year later.

• During an Alaska Airlines flight a year ago, a nearly new Boeing 737 Max 9 experienced a door plug blowout.
• Boeing's safety concerns and manufacturing flaws brought the company back into the limelight due to an incident.
• Boeing's new CEO, Kelly Ortberg, must prioritize increasing production and maintaining quality since she started in August.

is embarking on another rebuilding year.

Last year, Alaska Airlines' nearly new Boeing 737 Max 9 experienced a safety issue when a fuselage panel covering an unused emergency exit door blew out midair, causing fear among the passengers. Despite no serious injuries, the accident resulted in a safe emergency landing back in Portland, Oregon.

The preliminary National Transportation Safety Board report found that key bolts were not installed before the aircraft left Boeing's Renton, Washington, 737 factory, further damaging the reputation of the U.S. exporter.

Over the past 12 months, the S&P 500 has risen by nearly 27%, but Boeing's stock price has fallen more than 30%.

Boeing's leaders have spent the past 12 months implementing significant changes, such as replacing the executive ranks and providing more comprehensive training to hundreds of factory workers, many of whom are new.

Boeing has made significant progress in reducing defects in 737 fuselages made by a factory it is buying back, and has cut down on traveled work to build aircraft. The manufacturer also addressed feedback from employees provided during sessions with management throughout the year.

The Federal Aviation Administration has intensified its supervision of Boeing following the accident, limiting its production of the popular 737 Max jets, although output remains below the previous levels. FAA chief Mike Whitaker, who will resign on January 20, informed the company on Friday that "heightened scrutiny is here to stay."

He said Boeing's turnaround "is not a one-year project."

Whitaker stated that a fundamental cultural shift at Boeing is necessary, with a focus on safety and quality over profits. This shift will require sustained effort and commitment from Boeing, as well as unwavering scrutiny from us.

Mounting losses, delivery delays

Boeing has not posted an annual profit since 2018.

The year marked the start of a series of tragic accidents involving Boeing's 737 Maxes, resulting in the loss of 346 lives. The flight-control system was found to be responsible for both crashes, and the aircraft was taken out of service for nearly two years.

Over time, other quality issues arose, causing delays in the delivery of aircraft such as the 737 Max, 787 Dreamliner, and two 747s that will be used as Air Force One, among others.

Boeing has lost over $30 billion since 2019, and its new CEO must focus on improving production quality to avoid the defects that have slowed deliveries in the past.

In August, Boeing appointed Kelly Ortberg, a seasoned aerospace executive with over three decades of experience, as its new CEO, succeeding Dave Calhoun.

Nearly two months after Boeing machinists went on strike during Weeks into Ortberg's tenure, they approved a new four-year labor deal with 38% raises. However, some longtime workers sought to have Boeing reinstate pensions, which was not part of the new labor deal.

Despite the strike, Boeing's jet production was halted, but factories have resumed output in recent weeks. This is allowing Boeing to focus on stabilizing production and delivering jetliners to airlines before increasing production further, while Airbus continues to outpace Boeing in delivery volumes.

Boeing raised billions this fall to prevent a crisis, and Ortberg announced that the company would cut 10% of its 170,000-person workforce. Notices were sent out in late 2019, and Ortberg stated in October that the company needed to focus on its core businesses and review its portfolio.

He stated on his first earnings call in October that he believed it would be more advantageous for us to do less but do it well rather than doing more and not doing it well.

During his initial weeks in office, he toured factories and subsequently relocated to the Seattle region, where Boeing's primary manufacturing facilities are situated. This move has garnered acclaim from airline leaders who have been dismayed by the company's delayed aircraft deliveries amidst a post-pandemic surge in travel demand.

Boeing 737 airline CEO Bob Jordan warned in an interview last month that Boeing's recovery is still in its early stages, but he believes Ortberg comprehends the severity of the problems at the company.

He views this as a complete overhaul of Boeing, not just a temporary fix.