The Standard Group Plc is a multi-media organization with investments in media platforms spanning newspaper print
operations, television, radio broadcasting, digital and online services. The Standard Group is recognized as a
leading multi-media house in Kenya with a key influence in matters of national and international interest.
Since the beginning of 2024, US aircraft manufacturer Boeing has been plagued by production and quality control problems, lawsuits, corporate upheaval, increased regulatory oversight and a labor strike at a major factory.
Here's a reminder of the key events in a year to forget for Boeing:
January 5
A 737 MAX 9 operated by Alaska Airlines makes an emergency landing after a fuselage panel blows out mid-flight. The incident results in minor injuries.
February 6
The US National Transportation Safety Board (NTSB) says that four bolts were missing from the Alaska Airlines fuselage.
February 26
An audit by a Federal Aviation Authority (FAA) advisory panel investigating the period between March 2023 and February 2024 offers 53 recommendations to improve Boeing's safety culture, characterizing staff as confused and distrustful of changes.
February 28
An FAA audit gives Boeing 90 days to devise a plan to significantly upgrade its quality control processes. In particular, it freezes the monthly production rate of the 737 MAX.
March 25
Boeing announces CEO Dave Calhoun will step down at the end of 2024 as the company embarks on a search for a replacement. The aviation giant also replaces its head of commercial planes, as well as its board chairman.
April 17
A Senate panel hears from a Boeing whistleblower and other critics who accuse the company of punishing or sidelining criticism and downplaying problems.
May 14
The US Department of Justice (DOJ) concludes that Boeing flouted its obligations under a 2021 agreement regarding the crashes of two 737 MAX 8 aircraft, which resulted in the deaths of 346 people in all.
The move opens up the company to possible federal criminal prosecution.
July 7
Boeing and the DOJ announced an agreement that includes a guilty plea by the company to a fraud charge connected to the MAX certification.
July 24
The plea agreement is filed in a federal court in Texas. Judge Reed O'Connor is to decide whether or not to accept it -- a decision that remained pending as of November 4, 2024.
July 31
Boeing announces that former Rockwell Collins head Robert "Kelly" Ortberg will become its CEO, to begin August 8.
August 21
Certification testing of the 777X wide-body twinjet program is suspended due to a faulty part. Its first deliveries were originally scheduled for 2020.
September 8
Boeing agrees on a preliminary new contract with union leaders that includes a hefty wage hike that would avert a strike by more than 33,000 unionized workers in the Seattle region, the two sides announce.
September 13
A strike shuttering two major assembly plants for the 737, 777 and 767 aircraft begins following the union's rejection of the agreement a day earlier.
September 17-18
The first round of negotiations with federal mediators is held. Two further rounds are held on September 27 and October 7, with no agreement.
September 18
Boeing announces it will start furloughs of white-collar staff as it seeks to conserve cash amid the labor strike.
September 23
The company proposes lifting hourly wages for striking workers by 30 per cent, sweetening its initial offer in an effort to end the stoppage. The union rejects the deal.
October 8
Ratings agency Standard & Poor's considers lowering Boeing's credit rating.
October 11
Boeing announces the elimination of around 10 per cent of its worldwide workforce, the discontinuation of the 767 Freighter in 2027 and the postponement of delivery of the first 777X to 2026.
October 15
The company unveils measures meant to replenish its cash flow, including an intention to raise up to $25 billion.
October 18
The FAA launches an in-depth audit of production compliance and risk management processes, scheduled to last three months.
October 19
Boeing and striking Seattle-area workers reach a tentative deal to end the more than month-long stoppage, the union says.
October 23
Boeing reports its biggest quarterly net loss in four years, coming in at a whopping $6.17 billion.
Union members reject the second draft agreement with 64% of membership voting against its adoption.
October 29
Boeing raises about $21 billion in capital to shore up finances via a new stock offering.
October 31
Boeing and the union announce a contract proposal that includes a 38 percent wage increase over the four years of the contract, close to the 40 percent initially sought by the union.
November 4
Striking union members vote on whether or not to ratify the contract offer.
join