Boeing Faces Mounting Business Crisis
After the U.S. Federal Aviation Administration’s decision yesterday to ground Boeing’s 737 Max following Sunday’s deadly Ethiopian Airlines crash, the world’s largest planemaker is facing an uncertain future. Battling with European rival Airbus for commercial dominance, the Chicago-based company — which has largely relied on sales of 737s for revenue — is looking to CEO Dennis Muilenburg to help steer it out of a potentially crippling crisis that threatens $600 billion in orders.
Just how big is Boeing? With more than 100,000 worldwide employees powering a global supply chain, it’s seen as a significant contributor to the U.S. economy.