FAA Orders Probe Into 471 Boeing 737 Jets Over Fuselage Cracks
BA sits 32% above its 52-week low of $176.77.
Summary
The FAA issued an Airworthiness Directive requiring inspections on 471 Boeing 737-8, 8-200, and 737-9 aircraft after cracks were found in the fuselage bear strap near the forward galley door. Boeing says it identified the issue in 2019 and supports the directive, noting it has not been observed on the MAX fleet but inspections are extended due to similar design. This adds regulatory scrutiny amid Boeing's ongoing quality challenges, following the Alaska Airlines mid-air blowout and recent production ramp-up plans. The directive takes effect September 10, with potential operational disruptions for airlines.
At the time of this announcement, BA was trading at $233.05 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $183.5B. The 52-week trading range was $176.77 to $254.35. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Benzinga.