The Boeing Company (NYSE:BA) Chief Executive Officer Jim McNerney recently stated his wish to make the company more like Apple Inc. (NASDAQ:AAPL). He expressed his desire to make the company more innovative rather than waiting every 25 years to launch something big.
Boeing looks to the future
McNerney recently spoke during a yearly conference with analysts. During his meeting, he also discussed how The Boeing Company (NYSE:BA) needs to improve margins and reduce overall costs. He also shared his company’s plan to increase its market share in twin-aisle jetliners.
At this year's annual Robin Hood conference, which was held virtually, the founder of the world's largest hedge fund, Ray Dalio, talked about asset bubbles and how investors could detect as well as deal with bubbles in the marketplace. Q1 2021 hedge fund letters, conferences and more Dalio believes that by studying past market cycles Read More
The Boeing Company (NYSE:BA) competitor Airbus plans to keep evolving the A380 superjumbo as a response to Boeing’s new jetliner, the 777x. Airbus took a dig at its competitor’s recent financial help from Washington State. The company’s CEO, Fabrice Bregier, lashed out at Boeing’s significant tax break and also mentioned the challenge the new jetliner presented. He explained, “We will face after 2020 the challenge of the Boeing 777x. It is clear that as the challenges evolve, the A380 will have to evolve as well.”
Boeing’s competitor plans A330 makeover
Bregier added that he is more optimistic of a possible makeover of the A330 jet, yet no official decision has been made. He added, “I am probably more optimistic than I was in January because, in January, I discarded the idea, but I can’t tell you whether we will launch it or not.”
The Boeing Company (NYSE:BA) was able to take innovation from the high-tech carbon-fiber composite 787 Dreamliner and utilize it in other planes / products. This is all because of the investment made on that plane. The deferred costs for that plane are currently $23 billion and will likely grow to $25 billion in 2017, all prior to subsidizing production costs.
The Boeing Company (NYSE:BA)’s ambition to be more productive like Apple Inc. (NASDAQ:AAPL) sounds like a good move. If and when the airplane maker can successfully reach that goal remains to be seen. For now, Boeing is reaching for possibilities.