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Kelly Ortberg: Boeing CEO Kelly Ortberg says the company isn't ready to launch a new commercial aircraft anytime soon.
He told CNBC on Monday that Boeing needs "a couple more years" to fix its finances first.
The comment signals a shift in priorities. Boeing is focused on stabilizing operations rather than rushing out a successor to its 737 MAX.
Ortberg spoke with CNBC's Phil LeBeau at the Farnborough International Airshow in the United Kingdom.
He outlined three conditions Boeing must meet before greenlighting a new aircraft program.
"First of all, we have to be ready, and part of that is getting our financial house in order, and we're working on that," Ortberg said. He added that reaching that goal will take a couple more years.
Ortberg returned from retirement to lead Boeing through a difficult stretch. The company has faced repeated manufacturing and quality problems.
A fuselage door plug blew out mid-flight in January 2024, nearly causing a catastrophe. Since then, Ortberg has worked to rebuild trust in Boeing's operations.
He reiterated two other requirements for a new jet program. The technology must be mature enough to support it. Market demand must also justify the investment.
Right now, airline customers want something different. They're pushing Boeing to improve reliability and boost production of existing planes. A new jet isn't the priority, Ortberg said.
That suggests Boeing likely won't launch a new narrowbody aircraft until later this decade.
Airbus Sets Its Own Timeline
Boeing and Airbus continue to dominate the large commercial aircraft market. A new Boeing jet would help it better compete with the Airbus A320 family.
Analysts see that competition as critical to Boeing's future business prospects.
Airbus CEO Guillaume Faury addressed his company's plans in a separate CNBC interview Monday.
He said Airbus is targeting a next-generation single-aisle jet around 2030.
Entry into service would follow in the second half of the decade. Faury framed the timeline as essential to protecting Airbus's market position.
"We're the leader in the single-aisle segment, and we want to retain that position," Faury said on the sidelines of Farnborough.
He noted that ramping up production of current aircraft remains a priority too.
Both manufacturers have struggled with supply chain issues since the Covid-19 pandemic. Neither has been able to fully meet customer demand for new planes.
Investor sentiment has shifted this year. Confidence in Airbus has cooled somewhat.
Meanwhile, Boeing has shown signs of progress under Ortberg's leadership, following years of crisis.
Both companies are scheduled to report second-quarter earnings later this month.
Air Force One Program Gets a Boost
Boeing is ramping up resources for the next generation of Air Force One aircraft. Ortberg said the company will increase spending and add engineering and production staff.
The goal is to keep the VC-25B program on track for a 2028 delivery.
Boeing plans to run multiple shifts on the program. It will also bring on additional engineering and production personnel, according to Ortberg.
The Air Force One project has already faced significant setbacks. It was originally scheduled for delivery in 2024.
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