Boeing shares fall on FAA audit report
Boeing shares are down over 4%. The Federal Aviation Administration’s audit of Boeing’s 737 MAX production process, after a panel blew off on an Alaska Airlines jet in January, failed 33 of 89 tests, reported the New York Times.
As IGTV’s Angeline Ong says, that’s not the only thing that’s casting a shadow over Boeing.
(AI Video Summary)
More woes for Boeing
Boeing, a major aerospace company, is facing some tough times. A recent audit by the Federal Aviation Administration (FAA) highlighted several problems in the production of their 737 MAX planes. This is adding to the company's already existing challenges.
In a recent incident, New Zealand has decided to seize control of the "black boxes" from a LATAM Boeing 787 after a scary event on a flight from Sydney to Auckland, where passengers and crew were injured due to an abrupt drop while in mid-air. This is not the first time such an incident has occurred. In 2008, a Qantas Airbus 330 also experienced a sudden drop.
Boeing share price trading lower
As a result, Boeing is now dealing with ongoing investigations and uncertainties. The company's shares are currently being traded at lower prices on the IG platform. If we look at a graph of the stock's performance over the last 15 minutes, we can see a noticeable downward trend, indicating the possibility of further losses.
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