Boeing’s Chief Executive Officer Kelly Ortberg must be pinching himself.
In the span of just a few days, the company’s beleaguered Starliner spacecraft was given new life by NASA, a software glitch casting a cloud over its 737 Max airliner was lifted, it reached a labor agreement with unionized engineers to avoid a painful strike, and its defense business got a shot in the arm with a more than $20 billion contract to build a stealth fighter jet for the U.S. Navy.
That’s an incredible run. The biggest feat, by far, was beating out rival Northrop Grumman for the Navy’s stealth fighter, which comes on the heels of it scooping up the contract for the Air Force’s F-47 stealth jet last year over Lockheed Martin. The company, which had been locked out of the stealth platforms, now has two, turning the tables on its rivals. These have the potential to reverse the fortunes of Boeing’s troubled defense, space and security unit, driving earnings growth for decades to come.
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