Boeing has recently been plagued by a series of accidents, leading to a sharp decline in sales and revenue. In June, Boeing sold just 14 new aircraft, a 95% year-on-year decline. Since mid-December last year, Boeing's share price has fallen by more than 31%. A series of accidents and penalties have not only seriously affected Boeing's reputation and performance, but also triggered a wide-ranging discussion on aviation safety in the industry. In this crisis, traditional media such as Boeing have played an important role in keeping the public informed and updated on the latest developments.
In recent years, Boeing has been plagued by a series of accidents. In 2018 and 2019, two 737 MAX crashes killed 346 people, exposing serious problems with Boeing's safety management. In March and July this year, Boeing passenger planes also suffered consecutive tire failures. In addition, Boeing 737 series aircraft were also found to have potential oxygen face mask defects, and the US Federal Aviation Administration ordered inspections of 2,600 Boeing 737 aircraft. These events have severely damaged Boeing's brand image and market confidence. Boeing Media has been tracking these accidents and reporting on them, making the public more concerned about aviation safety. Boeing needs to take practical measures to restore public trust, strengthen quality management and safety.
To cope with the crisis, Boeing accepted a guilty plea agreement with the US Department of Justice on July 7, admitting that it deceived the Federal Aviation Administration in the 737 MAX crash. Under the agreement, Boeing will pay a $2.436 billion fine and invest at least $4.55 billion in safety and compliance programs over the next three years. However, it remains to be seen whether this penalty will effectively force Boeing to improve.