[[Boeing Capital]] provides customers financing for the products and services from the company's other divisions.
==Safety defects and airplane crashes==
-In [[Lion Air Flight 610|2018]] and [[Ethiopian Airlines Flight 302|2019]], two [[Boeing 737 MAX]] narrow-body passenger airplanes crashed, leaving 346 people dead and no survivors. In response, aviation regulators and airlines around the world [[Boeing 737 MAX groundings|grounded all 737 MAX]] airliners.<ref>{{cite news |title= Boeing Scrambles to Contain Fallout From Deadly Ethiopia Crash |work= The New York Times |url= https://www.nytimes.com/2019/03/11/business/ethiopian-airline-crash.html |agency= The New York Times |date= March 12, 2019 |access-date= July 2, 2019 |archive-url= https://web.archive.org/web/20190606021034/https://www.nytimes.com/2019/03/11/business/ethiopian-airline-crash.html |archive-date= June 6, 2019 |url-status= live|last1= Gelles |first1= David |last2= Kitroeff |first2= Natalie |last3= Ahmed |first3= Hadra }}</ref> A total of 387 aircraft were grounded.<ref>{{cite web |url=https://www.flightradar24.com/blog/where-the-grounded-737-max-are-stored/ |title=Where the grounded 737 MAX are stored |date=March 16, 2019 |publisher=Flightradar24 Blog |access-date=March 17, 2019 |archive-url=https://web.archive.org/web/20190606085511/https://www.flightradar24.com/blog/where-the-grounded-737-max-are-stored/ |archive-date=June 6, 2019 |url-status=live}}</ref> Boeing's reputation, business, and financial rating suffered after the groundings, as Boeing's strategy, governance, and focus on profits and cost efficiency were questioned.<ref>{{cite web |url=https://www.wsj.com/articles/faa-wants-to-increase-bear-strap-inspections-in-certain-boeing-planes-11570045320 |title=Boeing Prioritized Costs Over Safety, Engineer Alleges |author=Andrew Tangel and Andy Pasztor |date=October 2, 2019 |work=[[WSJ]] |access-date=October 23, 2019 |archive-url=https://web.archive.org/web/20191015144609/https://www.wsj.com/articles/faa-wants-to-increase-bear-strap-inspections-in-certain-boeing-planes-11570045320 |archive-date=October 15, 2019 |url-status=live}}</ref><ref>{{cite news |title= Boeing's credit-rating outlook downgraded by S&P Global |url= https://www.marketwatch.com/story/boeings-credit-rating-outlook-downgraded-by-sp-global-2019-10-22 |publisher= [[MarketWatch]] |author= Claudia Assis |date= October 22, 2019 |access-date= October 23, 2019 |archive-url= https://web.archive.org/web/20191023141200/https://www.marketwatch.com/story/boeings-credit-rating-outlook-downgraded-by-sp-global-2019-10-22 |archive-date= October 23, 2019 |url-status= live}}</ref><ref>{{cite news |title=Boeing survey showed employees felt pressure from managers on safety approvals |url=https://www.cnbc.com/2019/10/20/boeing-survey-shows-safety-workers-felt-pressure-from-managers-report.html |work=[[CNBC]] |author=Leslie Josephs and Thomas Franck |date=October 22, 2019 |access-date=October 23, 2019 |archive-url=https://web.archive.org/web/20191023142702/https://www.cnbc.com/2019/10/20/boeing-survey-shows-safety-workers-felt-pressure-from-managers-report.html |archive-date=October 23, 2019 |url-status=live}}</ref> In 2022, [[Netflix]] released an exposé, ''[[Downfall: The Case Against Boeing]]'' back-grounding the alleged responsibility of Boeing's corporate merger with McDonnell Douglas and restructure for the crashes alongside a disintegration of workplace [[Morale|esprit de corps]].<ref name="Downfall"/><ref name= "Bramesco" /><ref>{{Cite news |first1=Harry |last1=Hurt III |author1-link=Harry Hurt III |date=November 20, 2010 |url=https://www.nytimes.com/2010/11/21/business/21shelf.html |title=The Pain of Change at Boeing |newspaper=[[The New York Times]]}}</ref><ref>{{Cite web |last1=Frost |first1=Natasha |date=January 3, 2020 |url=https://qz.com/1776080/how-the-mcdonnell-douglas-boeing-merger-led-to-the-737-max-crisis |title=The 1997 merger that paved the way for the Boeing 737 Max crisis |work=[[Quartz (publication)]]}}</ref><ref>{{Cite web |last1=Smart |first1=Jon |date=January 28, 2021 |url=https://itrevolution.com/articles/lack-of-psychological-safety-at-boeing/ |title=Lack of Psychological Safety at Boeing |website=itrevolution.com}}</ref>
+In [[Lion Air Flight 610|2018]] and [[Ethiopian Airlines Flight 302|2019]], two [[Boeing 737 MAX]] narrow-body passenger airplanes crashed, leaving 346 people dead and no survivors. In response, aviation regulators and airlines around the world [[Boeing 737 MAX groundings|grounded all 737 MAX]] airliners.<ref>{{cite news |title= Boeing Scrambles to Contain Fallout From Deadly Ethiopia Crash |work= The New York Times |url= https://www.nytimes.com/2019/03/11/business/ethiopian-airline-crash.html |agency= The New York Times |date= March 12, 2019 |access-date= July 2, 2019 |archive-url= https://web.archive.org/web/20190606021034/https://www.nytimes.com/2019/03/11/business/ethiopian-airline-crash.html |archive-date= June 6, 2019 |url-status= live|last1= Gelles |first1= David |last2= Kitroeff |first2= Natalie |last3= Ahmed |first3= Hadra }}</ref> A total of 387 aircraft were grounded.<ref>{{cite web |url=https://www.flightradar24.com/blog/where-the-grounded-737-max-are-stored/ |title=Where the grounded 737 MAX are stored |date=March 16, 2019 |publisher=Flightradar24 Blog |access-date=March 17, 2019 |archive-url=https://web.archive.org/web/20190606085511/https://www.flightradar24.com/blog/where-the-grounded-737-max-are-stored/ |archive-date=June 6, 2019 |url-status=live}}</ref> Boeing's reputation, business, and financial rating suffered after the groundings, as Boeing's strategy, governance, and focus on profits and cost efficiency were questioned.<ref>{{cite web |url=https://www.wsj.com/articles/faa-wants-to-increase-bear-strap-inspections-in-certain-boeing-planes-11570045320 |title=Boeing Prioritized Costs Over Safety, Engineer Alleges |author=Andrew Tangel and Andy Pasztor |date=October 2, 2019 |work=[[WSJ]] |access-date=October 23, 2019 |archive-url=https://web.archive.org/web/20191015144609/https://www.wsj.com/articles/faa-wants-to-increase-bear-strap-inspections-in-certain-boeing-planes-11570045320 |archive-date=October 15, 2019 |url-status=live}}</ref><ref>{{cite news |title= Boeing's credit-rating outlook downgraded by S&P Global |url= https://www.marketwatch.com/story/boeings-credit-rating-outlook-downgraded-by-sp-global-2019-10-22 |publisher= [[MarketWatch]] |author= Claudia Assis |date= October 22, 2019 |access-date= October 23, 2019 |archive-url= https://web.archive.org/web/20191023141200/https://www.marketwatch.com/story/boeings-credit-rating-outlook-downgraded-by-sp-global-2019-10-22 |archive-date= October 23, 2019 |url-status= live}}</ref><ref>{{cite news |title=Boeing survey showed employees felt pressure from managers on safety approvals |url=https://www.cnbc.com/2019/10/20/boeing-survey-shows-safety-workers-felt-pressure-from-managers-report.html |work=[[CNBC]] |author=Leslie Josephs and Thomas Franck |date=October 22, 2019 |access-date=October 23, 2019 |archive-url=https://web.archive.org/web/20191023142702/https://www.cnbc.com/2019/10/20/boeing-survey-shows-safety-workers-felt-pressure-from-managers-report.html |archive-date=October 23, 2019 |url-status=live}}</ref> In 2022, [[Netflix]] released an exposé, ''[[Downfall: The Case Against Boeing]]'', claiming Boeing's corporate merger with McDonnell Douglas led to the crashes through a disintegration of workplace [[Morale|esprit de corps]].<ref name="Downfall"/><ref name= "Bramesco" /><ref>{{Cite news |first1=Harry |last1=Hurt III |author1-link=Harry Hurt III |date=November 20, 2010 |url=https://www.nytimes.com/2010/11/21/business/21shelf.html |title=The Pain of Change at Boeing |newspaper=[[The New York Times]]}}</ref><ref>{{Cite web |last1=Frost |first1=Natasha |date=January 3, 2020 |url=https://qz.com/1776080/how-the-mcdonnell-douglas-boeing-merger-led-to-the-737-max-crisis |title=The 1997 merger that paved the way for the Boeing 737 Max crisis |work=[[Quartz (publication)]]}}</ref><ref>{{Cite web |last1=Smart |first1=Jon |date=January 28, 2021 |url=https://itrevolution.com/articles/lack-of-psychological-safety-at-boeing/ |title=Lack of Psychological Safety at Boeing |website=itrevolution.com}}</ref>
In June 2020, the [[Federal Aviation Administration]] found several 737 MAX defects that Boeing deferred to fix, in violation of [[Federal Aviation Regulations|regulations]].<ref>{{cite web |date=July 9, 2020 |title=FAA Probing Boeing's Alleged Pressure on Designated Inspectors |url=https://www.bnnbloomberg.ca/faa-probing-boeing-s-alleged-pressure-on-designated-inspectors-1.1463003 |access-date=July 30, 2020 |website=BNN Bloomberg}}</ref> In September 2020, the [[United States House of Representatives|U.S. House of Representatives]] concluded its own investigation and cited numerous instances where Boeing dismissed employee concerns with a 737 MAX flight stabilizing feature ([[Maneuvering Characteristics Augmentation System|MCAS]]) that caused the two fatal accidents, prioritized deadline and budget constraints over [[Aviation safety|safety]], and lacked transparency in disclosing essential information to the FAA. It further found that the assumption that [[Simulator training for the Boeing MAX 737|simulator training]] would not be necessary had "diminished safety, minimized the value of [[Flight training|pilot training]], and inhibited technical design improvements".<ref>{{cite web |date=September 15, 2020 |title=Final Committee Report on the Design, Development, and Certification of the Boeing 737 MAX |url=https://transportation.house.gov/download/20200915-final-737-max-report-for-public-release&download=1 |publisher=The House Committee on Transportation and Infrastructure |page=141}}{{Dead link |date=October 2023 |bot=InternetArchiveBot |fix-attempted=yes}}</ref> On January 7, 2021, Boeing [[Settlement (litigation)|settled]] to pay over $2.5 billion after being charged with fraud over the company's hiding of information from the safety regulators: a [[fine (penalty)|criminal monetary penalty]] of $243.6 million, $1.77 billion of damages to airline customers, and a $500 million crash-victim beneficiaries fund.<ref>{{Cite web |last1=Josephs |first1=Leslie |date=January 7, 2021 |url=https://www.cnbc.com/2021/01/07/doj-fines-boeing-over-2point5-billion-charges-it-with-fraud-conspiracy-over-737-max-crashes.html |title=Boeing to pay more than $2.5 billion to settle criminal conspiracy charge over 737 Max |work=[[CNBC]]}}</ref>
projects / BK-2020-09.git / commitdiff