** Boeing’s new CEO clips corporate jet trips in show of restraint

Boeing's new CEO, Kelly Ortberg, has implemented a major overhaul of corporate travel policies as part of a cost-cutting strategy. By grounding corporate jets and requiring executives to fly commercial airlines, Ortberg aims to demonstrate financial discipline amid cash shortages and worker unrest. This policy change coincides with a strike that halted Boeing's commercial manufacturing, highlighting the need to raise $24 billion for the company's turnaround. Analysts view this move as an effort to foster shared sacrifice among executives, although the financial impact remains small compared to Boeing's $58 billion debt. In October, the executive fleet recorded only 29 flights, an 85% decline from the previous year, indicating a significant cultural shift.

As Boeing begins to relax some travel restrictions, the company is likely to continue re-evaluating its cost structures, including potential layoffs and divestitures of non-core businesses. The reduction in corporate travel reflects a broader trend towards austerity at Boeing, aligning with Ortberg’s vision for a leaner organization.