History of Boeing in Timeline
Boeing is a multinational corporation that designs, manufactures, and sells aircraft, rotorcraft, rockets, satellites, and missiles. It is a major global aerospace manufacturer, the fourth-largest defense contractor worldwide (based on 2022 revenue), and the largest exporter in the United States by dollar value. Founded by William E. Boeing in 1916, the company evolved through a merger with McDonnell Douglas in 1997. Boeing also provides leasing and product support services.
July 15, 1916: Boeing Founded
On July 15, 1916, William E. Boeing founded The Boeing Company, originally named Pacific Aero Products Company, in Seattle, Washington.
1916: Pacific Aero Products Company Founded
In 1916, William E. Boeing founded Pacific Aero Products Company in Seattle, Washington, marking the start of The Boeing Company.
1917: Boeing Airplane Company Renamed
In 1917, Pacific Aero Products Company was renamed Boeing Airplane Company.
1928: Boeing Airplane & Transport Corporation Formed
In 1928, William Boeing formed Boeing Airplane & Transport Corporation.
1929: United Aircraft and Transport Corporation Renamed
In 1929, Boeing Airplane & Transport Corporation was renamed United Aircraft and Transport Corporation and acquired several aircraft makers.
1931: United Airlines Formed
In 1931, United Aircraft and Transport Corporation merged its four smaller airlines into United Airlines.
1934: Boeing Airplane Company Re-established
In 1934, aircraft manufacturing was required to be separate from air transportation, leading to the re-establishment of Boeing Airplane Company as one of three major groups.
1960: Acquisition of Vertol Aircraft Corporation
In 1960, Boeing acquired Vertol Aircraft Corporation, then the largest independent manufacturer of helicopters.
1995: Partnership to Create Sea Launch
In 1995, Boeing partnered with Russian, Ukrainian, and Anglo-Norwegian organizations to create Sea Launch, providing commercial satellite launch services.
December 1996: Merger Intention Announced
In December 1996, Boeing announced its intention to merge with McDonnell Douglas.
August 1, 1997: Merger with McDonnell Douglas
On August 1, 1997, the merger of Boeing with McDonnell Douglas was completed, forming the present corporation.
August 4, 1997: Merger with McDonnell Douglas Completed
On August 4, 1997, the merger with McDonnell Douglas was completed after regulatory approval.
2000: Acquisition of Hughes Electronics' Satellite Segment
In 2000, Boeing acquired the satellite segment of Hughes Electronics.
2005: Spirit AeroSystems Established
In 2005, Spirit AeroSystems was established when Boeing spun-off its Wichita division to an investment firm.
2006: Boeing Paid Fine for Misconduct
In 2006, Boeing agreed to pay US$615 million in relation to illegal hiring of government officials and improper use of proprietary information.
2006: Release of UCLA Study
In 2006, the UCLA Center for Environmental Risk Reduction released a study showing that Boeing's Santa Susana Field Laboratory had been contaminated with toxic and radioactive waste.
2007: Testing Biofuels
As of 2007, Boeing had tested six fuels from various companies and expected to test 20 fuels in total.
2007: Long-Term Loan Guarantees
In 2007, the company benefited from over US$10 billion of long-term loan guarantees from the Export-Import Bank of the United States.
June 2008: Joined Algal Biomass Organization
In June 2008, Boeing joined other aviation-related members in the Algal Biomass Organization (ABO).
December 30, 2008: Test Flight Using Jatropha Biofuel
On December 30, 2008, a two-hour test flight using a 50-50 mixture of jatropha biofuel and Jet A-1 was completed in a 747-400 engine, showing no effects on performance.
2008: Previous Boeing Workers Strike
Boeing workers had gone on strike in 2008.
2008: Boeing's Tax Rebates
From 2008 to 2010, Boeing received US$178 million in tax rebates.
2008: Boeing ranked second on list of Top 100 US Federal Contractors
In 2008, Boeing was second on the list of Top 100 US Federal Contractors, with contracts totaling US$22 billion.
2008: Long-Term Loan Guarantees
In 2008, the company benefited from over US$10 billion of long-term loan guarantees from the Export-Import Bank of the United States.
2008: Obama received campaign contributions from Boeing employees
In the 2008 presidential election, Barack Obama received US$197,000 in campaign contributions from Boeing employees and executives.
2009: Boeing profited from Israeli weapons contracts
From 2009 through 2022, Boeing made between $50 billion to $100 billion in revenue via Israeli weapons contracts.
2009: Boeing spent millions on lobbying
In 2009, Boeing spent US$16.9 million on lobbying expenditures.
2009: Boeing ranked second on list of Top 100 US Federal Contractors
In 2009, Boeing was second on the list of Top 100 US Federal Contractors, with contracts totaling US$23 billion.
2010: Boeing increased operating cash flow
Between 2010 and 2018, Boeing increased its operating cash flow from $3 to $15.3 billion by negotiating advance payments and delaying payments to suppliers.
2010: Boeing Executive Pay Increased
In 2010, Boeing increased executive pay by 31% to US$41.9 million for its top five executives.
December 2011: Public Campaign criticized Boeing for lobbying and tax practices
In December 2011, Public Campaign criticized Boeing for spending US$52.29 million on lobbying and not paying taxes from 2008 to 2010.
2011: Boeing Employee Average Salary
In 2011, the average salary at Boeing was $76,784, as reported by former employees.
February 2012: Boeing Partners with Insight Labs
In February 2012, Boeing Global Corporate Citizenship partnered with the Insight Labs to develop a new model for foundations.
2013: Boeing spent billions on dividends and stock buybacks
From 2013 to 2019, Boeing spent over $60 billion on dividends and stock buybacks.
2013: Boeing secured highest-ever tax breaks
In 2013, Boeing secured the highest-ever tax breaks at the state level.
2017: Cleanup Agreement with the EPA
In 2017, Boeing agreed to a cleanup agreement with the EPA regarding the contamination at the Santa Susana Field Laboratory.
2017: Boeing Signed Deal with Saudi Arabia
In 2017, Boeing signed a deal with Saudi Arabia which included Saudi Arabia buying military aircraft and guided missile systems.
2018: Boeing increased operating cash flow
Between 2010 and 2018, Boeing increased its operating cash flow from $3 to $15.3 billion by negotiating advance payments and delaying payments to suppliers.
2018: First European Factory Opened
In 2018, Boeing opened its first factory in Europe at Sheffield, UK, along with a research partnership with the University of Sheffield.
2018: 737 MAX Crashes
In 2018, a Boeing 737 MAX narrow-body passenger airplane crashed, leading to the death of all passengers.
October 2019: Boeing separated roles of chair of the board and CEO
In October 2019, Boeing separated the roles of chair of the board and CEO.
2019: Boeing spent billions on dividends and stock buybacks
From 2013 to 2019, Boeing spent over $60 billion on dividends and stock buybacks.
2019: 737 MAX Crashes
In 2019, a Boeing 737 MAX narrow-body passenger airplane crashed, leading to the death of all passengers.
2019: Ethiopian Airlines Flight 302 crash
In March 2019, the Ethiopian Airlines Flight 302 crashed, and Boeing disputed if the victims experienced any pain or suffering.
January 25, 2020: Maiden Flight of the Boeing 777X
On January 25, 2020, the Boeing 777X, the company's largest capacity twin jet, made its maiden flight.
May 2020: Job Cuts Due to COVID-19
In May 2020, Boeing cut over 12,000 jobs due to the drop in air travel during the COVID-19 pandemic.
June 2020: FAA Finds 737 MAX Defects
In June 2020, the Federal Aviation Administration (FAA) found several 737 MAX defects that Boeing deferred to fix, violating regulations.
July 2020: Reported Loss and Further Cuts Planned
In July 2020, Boeing reported a $2.4 billion loss due to the pandemic and 737 MAX groundings, leading to plans for more job and production cuts.
August 18, 2020: Further Job Cuts Announced
On August 18, 2020, CEO Dave Calhoun announced further job cuts in response to financial difficulties.
September 2020: House Investigation Concludes
In September 2020, the U.S. House of Representatives concluded its investigation, citing numerous instances where Boeing dismissed employee concerns and prioritized budget constraints over safety regarding the 737 MAX.
October 28, 2020: Significant Layoffs Initiated
On October 28, 2020, nearly 30,000 Boeing employees were laid off amid increasing financial losses due to the COVID-19 pandemic.
2020: Fortune 500 Ranking
In 2020, Boeing ranked 54th on the Fortune 500 list and 121st on the Fortune Global 500 list.
2020: Boeing's second quarter revenue declined due to the pandemic
In 2020, Boeing's second quarter revenue was $11.8 billion due to the pandemic slump.
2020: Corporate Culture Clash Reported
In 2020, a clash of corporate cultures after the Boeing-McDonnell Douglas merger was reported to have potentially contributed to the 737 MAX crisis.
January 7, 2021: Settlement for Fraud Charges
On January 7, 2021, Boeing settled to pay over $2.5 billion after being charged with fraud for hiding information from safety regulators regarding the 737 MAX crashes.
2021: Boeing's second quarter revenue increased
In 2021, Boeing's second quarter revenue increased by 44%, reaching nearly $17 billion.
2021: Delay in 777X Delivery
In 2021, following an incident during flight testing, the estimated first delivery of the Boeing 777X was delayed until 2024.
July 19, 2022: Renewed Partnership with Mitsubishi
On July 19, 2022, Boeing announced a renewed partnership with Mitsubishi to produce carbon-neutral and sustainable solutions.
September 2022: Order to Pay Further Damages
In September 2022, Boeing was ordered to pay a further $200 million over charges of misleading investors about safety issues related to the 737 MAX crashes.
2022: Boeing profited from Israeli weapons contracts
From 2009 through 2022, Boeing made between $50 billion to $100 billion in revenue via Israeli weapons contracts.
2022: Fourth-Largest Defense Contractor
In 2022, Boeing was the fourth-largest defense contractor in the world based on revenue.
2022: Netflix Exposé Released
In 2022, Netflix released an exposé, Downfall: The Case Against Boeing, claiming Boeing's merger with McDonnell Douglas led to the 737 MAX crashes.
2022: Release of "Downfall: The Case Against Boeing" documentary
In 2022, Rory Kennedy released a documentary film, "Downfall: The Case Against Boeing", streamed by Netflix, criticizing Boeing's shift in focus from safety to Wall Street.
2022: Further Technical Problems Discovered
In 2022, further technical problems were discovered in the Boeing 777X aircraft.
February 2023: Layoffs Announced
In February 2023, Boeing announced plans for laying off approximately 2,000 workers from finances and human resources.
March 2023: Court Filing Dispute
In March 2023, Boeing disputed in court filings that the victims of Ethiopian Airlines Flight 302 experienced pain and suffering, a claim that was described as "preposterous".
May 2023: Acquisition of Wisk Aero
In May 2023, Boeing acquired autonomous eVTOL air taxi startup Wisk Aero.
2023: Corporate Headquarters in Arlington, Virginia
As of 2023, The Boeing Company's corporate headquarters is located in the Crystal City neighborhood of Arlington County, Virginia.
2023: Boeing sent bombs to Israel and stock prices soared
In 2023, Boeing sent 1,000 small diameter "smart" bombs for Israeli air attacks on Gaza, and stock prices soared due to additional Israeli weapons contracts. Demonstrations occurred at Boeing facilities, and students called for institutions to break partnerships with Boeing.
2023: Boeing plane deliveries
In the second quarter of 2023, Boeing plane deliveries were 136.
January 5, 2024: Alaska Airlines Door Plug Blowout
On January 5, 2024, on Alaska Airlines Flight 1282, a door plug blowout occurred on a 737 MAX 9 jetliner, leading to an emergency landing and the grounding of 171 aircraft.
January 2024: Shareholder Proposal to Relocate Headquarters
Following the January 2024 Alaska Airlines Flight 1282 incident, a shareholder proposed relocating Boeing's headquarters back to Seattle, which was dismissed by the board.
March 2024: Criminal Investigation and Executive Departures
In March 2024, the Justice Department opened a criminal investigation into the Alaska Airlines blowout, and CEO Dave Calhoun and board chairman Larry Kellner announced they would step down.
June 2024: Agreement to Re-acquire Spirit AeroSystems
In June 2024, Boeing agreed to re-acquire Spirit AeroSystems, its longtime supplier of airplane parts, for $4.7 billion after initial discussions in March.
July 2024: Boeing Announced new CEO
In July 2024, Boeing announced a new CEO, Kelly Ortberg.
August 8, 2024: New Boeing CEO met with FAA Administrator
On August 8, 2024, Boeing CEO Kelly Ortberg met with FAA Administrator Michael Whitaker to discuss the company's future direction, communicating his commitment to reinforcing Boeing's position as an industry leader.
September 12, 2024: Union Rejection of Contract Offer and Strike Vote
On September 12, 2024, Boeing machinist workers rejected a contract offer endorsed by their union's bargaining committee, with 96% voting to strike.
October 12, 2024: Job Cuts and Financial Losses Announced
On October 12, 2024, Boeing announced plans to cut 17,000 jobs, delayed 777X deliveries by a year, and recorded $5 billion in losses for the third quarter.
November 1, 2024: IAM Endorses Improved Contract Offer
On November 1, 2024, the IAM endorsed an improved contract offer for Boeing workers, including a pay rise, bonus, and reinstatement of an annual bonus scheme.
November 5, 2024: Boeing Workers Accept Pay Deal
On November 5, 2024, Boeing workers accepted the improved pay deal, ending their seven-week strike.
2024: Boeing's aircraft deliveries reached lowest output since pandemic
In 2024, Boeing delivered just 348 aircraft to its customers, its lowest output since the pandemic. The year ended with a backlog of 5,595 unfilled orders.
2024: Delay in 777X Delivery
In 2024, following an incident during flight testing, the estimated first delivery of the Boeing 777X was delayed.
2024: Protests and calls for divestment from Boeing
In 2024, students on hunger strike at Brown University named Boeing among corporations to divest from. Protesters were arrested at a Boeing facility in Ohio, and the student union at Washington University in St. Louis called for divestment from Boeing.
2024: Boeing revenues and plane deliveries decreased
In the second quarter of 2024, Boeing's revenues decreased 15 percent to $16.9 billion, with an operating loss of $1.39 billion and a net loss of $1.43 billion. Plane deliveries fell to 92.
2025: Release Delayed Again
In 2025, the release of the Boeing 777X delayed again.
