Boeing exploring sale of its space business, report says

Boeing is exploring the sale of some parts of its space business, the Wall Street Journal reported on Friday, citing people familiar with the matter.

The NASA business that Boeing is exploring a sale of includes the troubled Starliner space vehicle and operations that support the International Space Station, but excludes the unit building NASA’s Space Launch System, the newspaper reported.

The US planemaker’s shares rose 0.6 per cent in afternoon trading.

“Boeing doesn’t comment on market rumors or speculation,” the company said in a response to a request for comment.

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.

Two NASA astronauts that Boeing brought to the International Space Station remain stuck there and are scheduled to return in February on a craft from rival SpaceX.

Boeing for decades has built and maintained modules of the International Space Station, which faces retirement in 2030 and replacement by privately owned space stations being considered by NASA.

Boeing is also grappling with a five-week strike by 33,000 workers at its civil planemaking arm, leading to a halt in production of its best-selling 737 MAX jets, and 767 and 777 widebodies.

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. —News Desk