Boeing chief says finances need years of repair before new jet

Boeing Chief Executive Kelly Ortberg said the aircraft maker needs “a couple more years” to repair its finances before it can launch a new commercial jet, keeping attention on the company’s existing aircraft programs rather than a successor to the 737 MAX. In an interview with CNBC at the Farnborough International Airshow in the U.K. on Monday, Ortberg identified three conditions for a new aircraft program: Boeing’s own readiness, available technology and sufficient market demand.

The comments signal a measured timeline for one of the largest product decisions in global aerospace. Boeing and Airbus dominate the market for large commercial aircraft, and CNBC reported that a new Boeing model better able to compete with Airbus’s A320 family would likely be important to winning future orders.

Ortberg told CNBC’s Phil LeBeau that Boeing first has to put its finances on a firmer footing. “First of all, we have to be ready, and part of that is getting our financial house in order, and we’re working on that,” Ortberg said. “It’s going to take a couple more years to get where we want to be.”

Current programs remain the priority

Ortberg said airline customers are pressing Boeing to improve reliability and production performance across its existing aircraft lineup rather than move quickly to introduce another model. CNBC said that stance suggests Boeing is unlikely to launch a new narrowbody jet until later in the decade.

The emphasis on current production reflects the operational challenge facing the company after a series of manufacturing and quality problems. Ortberg, who came out of retirement to lead Boeing, has been tasked with stabilizing the manufacturer at a time when airlines continue to depend on deliveries from the two largest global aircraft producers.

A new aircraft program would require Boeing to judge whether the underlying technology is mature enough and whether airlines are prepared to support the model with orders. Ortberg told CNBC those tests sit alongside the company’s internal financial readiness. In commercial aerospace, a launch decision commits a manufacturer to years of development work before the aircraft enters airline fleets, making timing central to both capital allocation and customer confidence.

For now, Boeing’s best-selling 737 MAX remains the company’s central narrowbody product. The aircraft competes in a segment where Airbus’s A320 family is a core rival. CNBC reported that Boeing’s eventual ability to offer a new plane in that market will probably matter to its future commercial position, although Ortberg’s remarks indicate management is not prepared to accelerate a launch before the company has addressed its existing constraints.

Boeing shares were listed by CNBC at $0.03 lower, or 0.01%, after hours, while Airbus was shown down €1.32, or 0.68%. The share moves were cited alongside the interview, which came during one of the aviation industry’s main international gatherings.

This story draws on original reporting from CNBC.