DUBLIN, (Reuters) – The head of Boeing (NYSE:), the second largest aircraft leasing firm in the world said Thursday that his company had lost its way and may need new leadership to correct a culture that has become “totally corrupt”.

Avolon Chief Executive Domhnal Slattery’s comments were a rare public reproach of Boeing made by a large customer.

Boeing didn’t immediately reply to my email request for comment.

Slattery said that Boeing is losing its way. He spoke at the Airfinance Journal conference, Dublin. The event was attended by the Airfinance Journal attendees who are the largest group of aviation lessors in the world and together they own nearly all of the world’s passenger jets.

Boeing must fundamentally reconfigure its strategic relevance to the market,” he explained, adding that “fresh vision” and “fresh leadership are required.”

Boeing shares fell nearly 1 1/2 years ago after it reported a quarter-quarter loss and revealed $2.7 billion of additional costs. It also expressed concerns about the achievement of its 737 MAX delivery goals.

Boeing announced that it will stop 777X production until 2023, but did not specify when its twin-aisle Dreamliner 787 Dreamliner models would be resumed.

They are burning cash at an unimaginable level. Slattery stated that they are likely to be downgraded.

Slattery claimed that Boeing’s culture has become “totally distorted” but that these issues can be solved eventually.

Slattery stated, “I believe they’ll figure it out.”