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pat shanahan, ceo of spirit aerosystems spent many years here at boeing. he knows boeing well, boeing knows him well and he knows what spirit needs to do in terms of answering all those questions revolving around this particular aircraft as well as other questions about quality control at spirit. >> forgive me again for mislabeling that company, thank you very much, i appreciate it. >>> for more reaction to what dave calhoun said in his response to the incident and to the alaska air incident so far, let's get to a panel including dave crutchfield. boeing is the third largest holding for this man. let me start with you, tony, if i might, how material is this incident so far as we know it today? to the boeing stock price? >> thanks, i think financially speaking overall it is immaterial how we look at it, probably for weekdays it will probably be somewhere around $20 million a week on a concession basis. >> this is a liability boeing would have to pay to the airlines for a loss of use? >> yes, concessions wise. of course it will be inspection costs which are
pat shanahan, ceo of spirit aerosystems spent many years here at boeing. he knows boeing well, boeing knows him well and he knows what spirit needs to do in terms of answering all those questions revolving around this particular aircraft as well as other questions about quality control at spirit. >> forgive me again for mislabeling that company, thank you very much, i appreciate it. >>> for more reaction to what dave calhoun said in his response to the incident and to the alaska...
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it's part of what's addressed by dave calhoun in an employee town hall, swept pat shanahan, the knewpirit, they've been under pressure since the alaska airlines incident on january 5th and continue to be under pressure. look at shares of boeing we've talked about this before, guys they deliver 379 max airplanes in 2023. their goal is to get up to production of 50 a month by 2025, 2026, they're currently at 38 that's the game for investors. is there a path to 50? or is it pushed out even further? because ultimately that will drive free cash flow and the guidance for free cash flow in '25 and '26, which the company has given in the past. will they reiterate it the next time they give guidance. >> phil, thank you phil lebeau. >>> still to come here we'll have an exclusive with paypal's new ceo, alex chriss he'll give us the outlook for that business. it's been a rough couple of years. you can see that right there we're back with that how am i going to find a doctor when i'm hallucinating? what about zocdoc? so many options. yeah, and dr. xichun even takes your sketchy insurance. xi-chun
it's part of what's addressed by dave calhoun in an employee town hall, swept pat shanahan, the knewpirit, they've been under pressure since the alaska airlines incident on january 5th and continue to be under pressure. look at shares of boeing we've talked about this before, guys they deliver 379 max airplanes in 2023. their goal is to get up to production of 50 a month by 2025, 2026, they're currently at 38 that's the game for investors. is there a path to 50? or is it pushed out even...
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dave calhoun, along with pat shanahan, ceo of spirit aerosystems, addressing employees there in wichitat we saw from boeing's town hall last week the idea here is to say to the workers there, we've got to do better you cannot have these kind of quality escapes that lead to this kind of a situation by the way, spirit aero, the quality controls there have been in question for some time over the last couple of years this is not the first issue that has popped up. with regard to this issue, when it comes to the 737 max 9, as you mentioned, 40 inspections of grounded max 9s have been completed. the cdata is being analyzed by the faa. when we see these planes return to service, when the faa gives instructions in terms of this is what you need to check for remains to be seen two airlines are eager to get these planes back in the air, united and alaska. for united, its 79 max 9 planes are grounded look at the selloff here since this incident, really in the last week, as -- we don't know how long they'll be grounded here then with alaska, it's a bigger part of the alaska percentage of the fleet,
dave calhoun, along with pat shanahan, ceo of spirit aerosystems, addressing employees there in wichitat we saw from boeing's town hall last week the idea here is to say to the workers there, we've got to do better you cannot have these kind of quality escapes that lead to this kind of a situation by the way, spirit aero, the quality controls there have been in question for some time over the last couple of years this is not the first issue that has popped up. with regard to this issue, when it...
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shanahan from spirit aerosystems.y through today. guys, back to you. >> phil, last question. you said, you know, boeing is responsible for tightening the bolts, full stop, i'm paraphrasing, obviously. has dave calhoun come out and said that, too? when kelly asked him how this could happen, he talked about quality escapes and gathering everything, et cetera. >> sure. >> there wasn't sort of a clear ownership of this problem to me, at least. >> well, i don't think that there's going to be a clear ownership until people know exactly what caused this. and that's not, you know, i'm not defending dave calhoun or spirit aerosystems or anyone. until we know from the ntsb, this is what we believe caused this incident, it's hard for anybody to take full ownership having said that, melissa, dave calhoun says, look, unacceptable. it's a mistake, we need to be, you know, we need to own it. we need to say, okay, how do we keep this from happening again? >> all right, phil, thank you. terrific interview. phil lebeau. despite the lat
shanahan from spirit aerosystems.y through today. guys, back to you. >> phil, last question. you said, you know, boeing is responsible for tightening the bolts, full stop, i'm paraphrasing, obviously. has dave calhoun come out and said that, too? when kelly asked him how this could happen, he talked about quality escapes and gathering everything, et cetera. >> sure. >> there wasn't sort of a clear ownership of this problem to me, at least. >> well, i don't think that...
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Jan 8, 2024
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pat shanahan is the new ceo at spirit. he's a long-time former boeing executive.ighly respected in the industry, highly respected at boeing. the belief from people that i have talked to within the industry is that he will get things straightened out. having said that, they went a long time where they had mistake after mistake after mistake in wa wichita, and a lot of people feel that perhaps spirit's board waited way too long to make some changes and to address the situation. that's in the past now, jim. nothing you can do about that now. the question is how quickly can spirit and boeing address the situation that's going on right now? >> speaking of that, phil, i mean, jim mentioned the duopoly defense as people try to defend the stock today. the other is that the inspection itself really only takes a few hours, right? >> yeah. four to eight hours. not very long at all. what's happening right now, just so you understand, boeing, along with the faa, are sitting down and saying, okay, what exactly happened? what exactly will we ask the airlines to be looking for wh
pat shanahan is the new ceo at spirit. he's a long-time former boeing executive.ighly respected in the industry, highly respected at boeing. the belief from people that i have talked to within the industry is that he will get things straightened out. having said that, they went a long time where they had mistake after mistake after mistake in wa wichita, and a lot of people feel that perhaps spirit's board waited way too long to make some changes and to address the situation. that's in the past...
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they have a new ceo there, pat shanahan, who was a long-time boeing executive, served in the trump administrationom spirit at this point that mr. shanahan will be talking anytime soon, but he's got his hands full in terms of correcting a lot of the problems that are at spirit. again again, we don't know if spirit is directly the cause of what happened withairlines, but certa of the of questions for investors today, guys, back to you. >> yeah, i mean, phil, the video is so graphic. it's hard not to put yourself in the position of the passengers who were on that plane, and i think that's the instant reaction everybody had. imagine even driving into work with your windows down and think about these passengers went through. when you look at the stock implications. spirit aero, that used to be a unit of boeing, the idea that it was spun off at some point. >> yeah, it's been separate. it's been its own company since 2005, and it has diversified its product portfolio. when it was spun off initially from boeing, almost all of its business, as you would imagine was from fuselages were built, they were bui
they have a new ceo there, pat shanahan, who was a long-time boeing executive, served in the trump administrationom spirit at this point that mr. shanahan will be talking anytime soon, but he's got his hands full in terms of correcting a lot of the problems that are at spirit. again again, we don't know if spirit is directly the cause of what happened withairlines, but certa of the of questions for investors today, guys, back to you. >> yeah, i mean, phil, the video is so graphic. it's...