Boeing ended a difficult 2024 as the Dow’s biggest loser

• Among the 30 companies included in the Dow Jones Industrial Average, Boeing’s stock price fell the most in 2024.

• The planemaker got off to a troubling start with the implosion of Alaska Airlines in January.

• Its new CEO also had to deal with a seven-week strike that contributed to delivery delays.

Boeing 2024 painful The plane maker ended up being ranked as the biggest loser in the Dow Jones Industrial Average.

Its stock price fell 31% last year — the worst of the 30 companies on the index, according to Market data insider.

The aircraft maker was on the verge of avoiding that title as Nike shares fell nearly 30% over the same period. Overall, the Dow Jones rose 13%, led by Nvidia after its stock more than doubled.

Just days away from 2024, it was clear that it would be a testing year for Boeing.

On January 5, A Alaska Airlines 737 Max Door seal lost in midair. The fact that the aircraft was delivered 66 days ago indicates that the problem originated from the manufacturer. This was later revealed in the National Transportation Safety Board’s initial report that said the plane left the Boeing factory without major bolts.

The incident sparked a major overhaul of the company’s operations and culture, and a wave of criticism from airline bosses.

Regulators have put Boeing under more scrutiny as well. The Federal Aviation Administration has capped 737 MAX production at 38 per month. Its CEO, Mike Whittaker, told Reuters last month that he expected Boeing to take several months to reach that number.

In March, Dave Calhoun stepped down as CEO. He was replaced in August by Kelly Ortbergan industry veteran who has signaled a return to prioritizing engineering over profit.

Ortberg announced his plans to be based in Seattle, Boeing’s historic home, and visited factories.

However, the beleaguered company has been unable to stay out of the headlines.

In September, Starliner The spacecraft returned to Earth without a crew. The astronauts it carried were supposed to return to the ISS after eight days, but problems with the Starliner meant they were instead scheduled to spend eight months in space.

Later that month, about 30,000 Boeing workers went on strikeThis delayed production for seven weeks amid tense union negotiations. Production of the 737 MAX did not resume until December.

Late deliveries continued to anger airline customers. During the strike, Ortberg announced further delays to the anticipated but not yet certified Boeing 777X.

The CEO also said that Boeing will lay off 10% of its 170,000 employees.

Boeing’s biggest competitor, Airbussaw its shares rise by 14% over the past year.

The story continues