"They have lost their mojo" — Shark Tank investor Kevin O'Leary discusses why Boeing is lagging behind

Shark Tank investor Kevin O'Leary is the latest to voice harsh criticism of Boeing's recent difficulties. O'Leary asked why Boeing, a former aerospace pioneer, is now not fulfilling important promises in a recent interview, referring to the long-overdue and expensive replacement aircraft for Air Force One.

As discussions rage about whether President Biden needs to think about using a modified Qatar Airways aircraft instead, O'Leary brought up Boeing's failure to satisfy the requirements it established.

"I mean, they have lost their mojo in a big way and this, they should be taking a lot of the heat themselves," O’Leary said. "And I think this is a great gesture because at the end of the day, you want the best aircraft for the president, why not?"

While Boeing faces production delays and budget overruns, he added, the administration has the chance to choose a safer, more modern aircraft that is currently operational. O'Leary's views coincide with heightened scrutiny of Boeing's dependability and reflect rising customer and industry fears about the company's future as a leader in aviation.

Why Shark Tank investor Kevin O'Leary thinks Boeing is falling behind in the aviation race

When talking about Boeing's recent shortcomings, especially its inability to deliver the new Air Force One jets on schedule and within budget, Shark Tank investor Kevin O'Leary didn't mince words.

Given that rivals appear to be succeeding, the Shark Tank investor questioned why the venerable aircraft manufacturer is having trouble meeting deadlines and controlling costs. His frank judgment is indicative of a rising worry that Boeing, a former aviation pioneer, is becoming less competitive in a global industry that is becoming more and more competitive.

Shark Tank's OG brings up a serious point that many people appear to ignore: Boeing's ongoing hold-up in delivering the new Air Force One aircraft. In addition to being beyond time, these aircrafts are also well over budget. Given the project's crucial significance and high prominence, O'Leary says this circumstance should cause great concern.

"Why is it that Boeing can't deliver the new version of Air Force One?... They're over budget, they're late," he questioned, highlighting the company's recent operational shortcomings.

He then makes a contrast to Boeing's previous success, bringing to mind an era when the company was renowned for its dependability and efficiency.

"Boeing used to make aircraft and deliver them," Shark Tank expert says, referring to a jet that was successfully delivered to Qatar.

Because of the delays, O'Leary contends, the administration now has a chance to think about safer, already-built aircraft that can be converted to Air Force One. He believes that while Boeing tries to get back on its feet, this would be a more sensible course of action.

Crucially, Shark Tank's O'Leary isn't afraid to discuss the wider ramifications of Boeing's continuous problems. He emphasized that the corporation should take a large portion of the blame for its current situation. As concerns about Boeing's capacity to steer the aviation sector ahead grow, he thinks it's time for the company to face up to its mistakes.

Trending

Watch more informative videos of Shark Tank's Kevin O'Leary on his Instagram account.

×

Was this article helpful?

Thank You for feedback