Boeing Weighs Option of Selling Off Its Space Business

I recently reported that a Boeing-made satellite, Intelsat 33e, exploded in space this week following an “anomaly,” resulting in its total loss.

The effort, part of a strategy by Boeing’s new Chief Executive Officer Kelly Ortberg to streamline the company and stem its financial losses, is at an early stage and might not result in a deal. The aerospace company’s Starliner spacecraft has been hindered for years by development delays and technical problems, with more than $1.8 billion in private cost overruns.

The company’s new CEO, Kelly Ortberg, has sought to pull Boeing out of crises in its planemaking business. On a quarterly call with analysts on Wednesday, Ortberg said he wants Boeing “doing less and doing it better,” but did not mention the space unit. The potential sale comes after years of speculation about ULA’s future and failed attempts to divest the joint venture over the past decade. In 2019, Boeing and Lockheed Martin reportedly explored selling ULA but couldn’t agree on terms with potential buyers.ULA referred Reuters to Boeing and Lockheed for comment. The two companies said they do not comment on market speculation. Sierra did not immediately return a request for comment.

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