Boeing names Kelly Ortberg as new chief executive

Boeing’s troubles have spilled over into the wider aerospace industry, contributing to significant delays in delivering new planes for airlines looking to expand routes and improve fuel efficiency.

The company, one of the world’s two major manufacturers of commercial airplanes, currently has a backlog of about 5,400 aircraft on order, it reported on Wednesday.

Boeing shares rose more than 1% after the announcement, signalling optimism among investors.

But Christopher Carey, portfolio manager at Carnegie Investment Council, said it would be a “wait-and-see story” as to whether the new appointment marks a turning point for the firm.

“All eyes really will be on the coming quarters to see if Boeing is able – and he himself is able – to live up to that promise,” he said.

Representative Rick Larsen, the senior Democrat on a key House Transportation Committee, wrote on social media that he was “encouraged” to see the company appoint a mechanical engineer to the top role.

“I hope that means he will ensure that his top message for everyone is building the best airplane means building the safest airplane in the world,” he said.

Mr Calhoun, who will stay on as a special advisor to the board of directors until March 2025, said the firm was already making progress.

He pointed to the deal announced earlier this month to acquire Spirit Aerosystems, as well the plan the company submitted to regulators related to its manufacturing process.

Boeing also said it had managed to increase production of commercial planes over the three months to June although it still faces a cap on output that was imposed by the federal government after the Alaska Airlines incident.

“Despite a challenging quarter, we are making substantial progress strengthening our quality management system and positioning our company for the future,” Mr Calhoun said.