Boeing’s Starliner Facing Challenges With Losses Totaling $1.5 Billion
14 August 23
The troubled Starliner astronaut spacecraft programme cost Boeing, the aerospace behemoth, $257 million in the second quarter, which company reported as a substantial financial loss. This charge adds to the program’s astronomical overrun expenses, which have grown to $1.5 billion as a result of ongoing delays.
The primary reason behind this latest loss was Boeing’s decision to postpone the inaugural crewed launch of Starliner indefinitely. The mission, set to carry NASA astronauts to the International Space Station, was originally scheduled for late July. However, two new issues with the spacecraft were discovered during pre-launch preparations, leading to the decision to rectify the problems before proceeding with the launch. This delay marks yet another disruption in Boeing’s prolonged development of Starliner.
Since Boeing won a fixed-price contract from NASA for the development of the Starliner in 2014, the programme has seen a number of setbacks. The deal was for roughly $5 billion. The company has throughout the years disclosed losses on the programme totaling $1.47 billion.
Between 2018 and 2019, losses each year varied from $57 million to $489 million. Due to further delays, SpaceX, which is expected to finish all six of its planned NASA missions before Boeing’s maiden launch, is now directly competing with Boeing’s Starliner programme.
The CEO of Boeing, Dave Calhoun, expressed confidence in the Starliner project and reaffirmed the firm’s dedication to placing safety first. He said Boeing and NASA are collaborating closely to fix the spacecraft’s problems and take the time needed to assure a successful launch.
Despite the setbacks, industry insiders and space enthusiasts are still optimistic that Boeing will overcome them and go on working with NASA to further space exploration. The Starliner program’s future development is constantly monitored as Boeing works to address problems and complete successful crewed space flights.