A year after Boeing's door plug accident, the aircraft giant faces a steep road to recovery

Boeing is embarking on another rebuilding year.

A year ago, the company was thrust back into the spotlight for concerns over safety and quality when a fuselage panel that covered an unused emergency exit door blew out midair from a nearly new Boeing 737 Max 9 operated by Alaska Airlines. The accident terrified those on board though no one was seriously injured and the plane made a safe emergency landing back in Portland, Oregon.

Key bolts were not installed before the aircraft left Boeing's Renton, Washington, 737 factory, a preliminary National Transportation Safety Board report found, again tarnishing the image of the marquee U.S. exporter.

Boeing's stock price is down more than 30% over the past 12 months, while the S&P 500 is up nearly 27%.

Boeing's leaders have spent the past 12 months making major changes that span replacements in its executive ranks, including a new chief executive, to more robust training for hundreds of factory workers, many of whom are new.

The company on Friday outlined its progress over the past year, including initiating random quality audits at factories. Boeing said it has "significantly" reduced defects in 737 fuselages made by Spirit AeroSystems, which it is buying back, and cut down on so-called traveled work, where tasks to build aircraft are done out of sequence, in an effort to reduce flaws. The manufacturer also said it addressed much of the feedback from employees provided during sessions with management throughout the year.

Since the accident, the Federal Aviation Administration increased its oversight of Boeing, capping its production of its best-selling 737 Max jets, though output is still below those levels. FAA chief Mike Whitaker, who said he will step down on Jan. 20, warned the