Boeing Explores Selling Starliner Spacecraft Amidst Financial Troubles
Boeing, the aerospace giant, is reportedly considering selling its Starliner spacecraft and its operations supporting the International Space Station (ISS) to alleviate financial pressure. This move comes as the company grapples with a series of setbacks and challenges, including the recent Starliner mission that was plagued by technical issues.
According to The Wall Street Journal, citing sources familiar with the matter, Boeing is exploring strategic options for its NASA business, including a potential sale. The effort is in its early stages, and it is unclear whether a deal will be reached or what form it might take.
The report indicates that Boeing intends to retain its commercial and military satellite business, as well as its oversight of the Space Launch System, NASA’s primary launch vehicle. The company has also reportedly had discussions with Jeff Bezos’ Blue Origin about taking over some of the NASA programs.
Starliner’s Troubles
The decision to consider selling Starliner comes on the heels of a series of challenges for the spacecraft. Two astronauts launched to the ISS aboard Starliner in June, but technical issues prevented their timely return. The mission was ultimately scrapped, with the astronauts eventually returning to Earth on a different spacecraft.
Starliner subsequently undocked from the ISS without crew in early September, after NASA announced that there was no fixed timeline for its next launch. The agency is currently evaluating the spacecraft’s performance and determining the best course of action for its future.
Boeing’s Financial Struggles
Boeing’s financial performance has been severely impacted by the Starliner program’s challenges. In the third quarter of 2023, the company’s Defence, Space, and Security segment recorded a significant loss of $2,384 million. This contributed to a larger overall adjusted operating loss of $5,989 million, which encompassed other business segments including its commercial airplane division.
Ted Colbert, Boeing’s Space segment chief, left the company in September amidst the ongoing financial and technical difficulties.
Stock Performance
Boeing’s stock price has reflected the company’s struggles. On Friday, the stock closed at $155.01, down 0.10% for the day. Year-to-date, the company’s shares have declined by 38.43%.
As Boeing navigates these turbulent waters, the fate of the Starliner spacecraft remains uncertain. The company’s decision to explore a sale is a testament to the mounting financial pressure and the challenges it faces in a highly competitive aerospace market.
