PUGET SOUND — Kelly Ortberg became CEO of Boeing in August 2024 and resolved a 53-day mechanics strike that had reduced 737 MAX production to nearly zero. During his first year in charge, he raised $24.3 billion in capital, won the U.S. Air Force’s Sixth Generation fighter contract in March 2025, and returned Boeing’s defense and space division to profitability by the first quarter of 2026.

Ortberg’s tenure followed a period of crisis for Boeing, triggered by the Lion Air and Ethiopian Airlines 737 MAX crashes in 2018 and 2019 that killed 346 people. In January 2024, a door-plug blowout on a 737 MAX over Portland, Oregon, further damaged confidence, prompting federal regulators to cap production at one-third below prior levels. Boeing’s defense and space division reported a $5.4 billion operating loss in 2024 due to cost overruns on federal contracts.

Ortberg reinstated an “engineering-first” culture, reversing earlier strategies that prioritized share buybacks over innovation between 2014 and 2018. He accelerated manufacturing safety improvements under FAA supervision and negotiated a new approach with suppliers, seeking win-win agreements rather than imposing aggressive pricing terms. The FAA later raised the 737 MAX production cap from 38 to 42 aircraft per month, and Ortberg plans to reach 52 per month by the end of 2026.

Under his leadership, Boeing’s defense division turned slightly profitable in 2025 and earned $233 million in Q1 2026, achieving a 3.1% operating margin. CFO Jesus Malave said, “I think the potential for our cash flow supports being above $10 billion.” Analyst Scott Mikus of Melius Research projects Boeing will reach $10 billion in free cash flow by around 2028.

“He’s a Midwesterner who takes the ‘no decision before its time’ approach. He’s methodical about checking all the boxes one after another. He’s such a good engineer that he knows just enough about everyone’s job to be dangerous. And he knows how to make money,” said Richard Safran, an analyst at Seaport Securities who worked with Ortberg at Rockwell Collins. Scott Mikus said, “Boeing found its change-agent in Ortberg. Thanks to Ortberg, the dream of a great industrial company is still alive.”