Monday, April 15, 2024

Boeing is facing major problems

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Boeing’s rough year got even tougher recently when a 787 Dreamliner had a sudden drop during a flight, causing injuries to many passengers. The pilot managed to regain control and land safely, but what caused the incident is still unclear. LATAM referred to it as a “technical event,” while Boeing is investigating.

This adds to Boeing’s string of problems in 2024. It all started with part of an Alaska Airlines 737 Max breaking off mid-flight due to missing bolts in a door plug. This led to a temporary grounding of certain 737 Max jets, congressional hearings, production delays, investigations, and a significant drop in Boeing’s stock value.

In February, there were reports of flight control issues on a United Airlines 737 Max during landing in Newark. The National Transportation Safety Board is looking into it. Additionally, the Federal Aviation Administration flagged safety concerns with de-icing equipment on 737 Max and 787 Dreamliner models.

Recently, the NTSB revealed that Boeing hasn’t provided records regarding the assembly line steps for the door plug replacement on the Alaska Airlines jet. Boeing claimed these records don’t exist, and they are working on addressing various issues raised.

Boeing’s stock took another hit after the 787 incident, falling 3% on Monday and an additional 4.5% on Tuesday. It’s now the second-worst performer in the S&P 500, just behind Tesla. However, the bigger concern is Boeing’s damaged reputation, making it harder to regain trust from airlines, regulators, and passengers with each new problem.

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