Followers | 689 |
Posts | 143817 |
Boards Moderated | 35 |
Alias Born | 03/10/2004 |
Tuesday, July 13, 2021 9:50:28 AM
By: TheStreet | July 13, 2021
• Boeing said it would likely deliver 'fewer than half' of the roughly 100 787 Dreamliners it has in inventory this year as it works to fix a structural flaw identified earlier this week by the FAA.
Boeing Co. (BA) shares slumped lower Tuesday after the planemaker said it would trim production of its 787 Dreamliner following the discovery of a structural flaws in the troubled twin-aisle aircraft.
Boeing said it would deliver "fewer than half" of the 787s currently in inventory by the end of the year, down from its prior forecast of "the vast majority" as it works with the Federal Aviation Administration to fix gaps in what is known as the 'forward pressure bulkhead'.
The FAA said late Monday that the issue was discovered "as part of the ongoing system-wide inspection of Boeing's 787 shimming processes" in undelivered planes, but noted that some Dreamliners already in service could eventually require a similar fix.
"Based on our assessment of the time required to complete this work, Boeing is reprioritizing production resources for a few weeks to support the inspection and rework," Boeing said in a statement Tuesday. "As that work is performed, the 787 production rate will temporarily be lower than five per month and will gradually return to that rate.
"We will continue to take the necessary time to ensure Boeing airplanes meet the highest quality prior to delivery," Boeing added. "Across the enterprise, our teams remain focused on safety and integrity as we drive stability, first-time quality and productivity in our operations."
Boeing shares were marked 3.4% lower in early trading Tuesday to change hands at $230.20 each.
Boeing also published second quarter delivery figures Tuesday, with an overall tally of 79 planes that included 50 737 MAX jets and 12 787 Dreamliners.
Last month, United Airlines (UAL) confirmed plans to buy a total of 270 new planes from both Boeing and Airbus (EADSY) for around $30 billion in the largest single aircraft deal in the carrier's history.
United will buy 50 Boeing 737 Max 8 jets and a further 150 Max 10s, with the first of the Max 8s expected to begin carrying passengers later this summer. United will also buy 70 Airbus A321 Neos, the planemaker's narrowbody rival to the Max, as part of the $30 billion list price order. United also said it will add 25,000 new jobs as a result of the fleet expansion.
Boeing will publish its second quarter earnings on July 28.
Read Full Story »»»
DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
• DiscoverGold
Recent BA News
- Form 8-K - Current report • Edgar (US Regulatory) • 09/20/2024 09:27:37 PM
- Boeing Completes First Flight of UK E-7 Wedgetail • PR Newswire (US) • 09/20/2024 07:53:00 PM
- AIG names new CFO; Progyny Drops 24% After Losing Key 2025 Contract; Exicure Jumps 190% With Nasdaq Extension • IH Market News • 09/19/2024 10:26:48 AM
- Meta Strengthens Child Privacy on Instagram; Google Overturns $1.7 Billion Antitrust Fine; Snap Updates Spectacles • IH Market News • 09/18/2024 10:13:07 AM
- Microsoft Boosts Share Buyback, Raises Dividends by 10%, Intel Secures Chip Deal with Amazon • IH Market News • 09/17/2024 10:40:35 AM
- EMBRAER S.A. - MATERIAL FACT • PR Newswire (US) • 09/16/2024 01:24:00 PM
- Intel Secures $3.5 Billion Subsidy, Stellantis Backs EU Emissions Targets, BP and Apollo Reach $1 Billion Deal • IH Market News • 09/16/2024 10:03:27 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/13/2024 09:11:01 PM
- OpenAI Unveils Strawberry AI Model Series; Boeing Stock Falls 4% Amid Strike; HR Surges 20% on Growth Forecast • IH Market News • 09/13/2024 10:12:55 AM
- Norfolk Southern CEO Fired, Ryanair Lowers Fare Forecast, 23andMe Considers Acquisition Proposals • IH Market News • 09/12/2024 10:02:29 AM
- GameStop plunges 11% on stock offering, DJT drops post-debate, GSK fails shingles vaccine trial • IH Market News • 09/11/2024 10:25:41 AM
- Boeing Pioneering Quantum Communications Technology with In-Space Test Satellite • PR Newswire (US) • 09/10/2024 02:15:00 PM
- Apple Loses EU Dispute; Google’s $2.7 Billion Fine Upheld; Oracle Shares Surge 9% • IH Market News • 09/10/2024 10:02:31 AM
- Dell, Palantir, and Erie Will Be Added to the S&P 500; Boeing Avoids Strike; Apple Event Takes Place Today • IH Market News • 09/09/2024 10:05:35 AM
- Boeing CFO Brian West to Speak at Morgan Stanley Laguna Conference September 13 • PR Newswire (US) • 09/06/2024 03:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/05/2024 09:09:48 PM
- Qualcomm Develops Mixed Reality Glasses; Verizon to Boost Dividend, Eyes Acquisition; Samsonite Plans US Dual Listing • IH Market News • 09/05/2024 10:11:35 AM
- Nvidia Subpoenaed by DOJ, Athira Pharma Shares Plunge 71% After Study Fails, Zscaler Falls 15% Post-Earnings • IH Market News • 09/04/2024 09:50:25 AM
- U.S. Steel Shows Weakness, Boeing Under Pressure, Unity Software Should Show Initial Strength • IH Market News • 09/03/2024 01:12:17 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/29/2024 11:48:30 PM
- High Volatility Expected in Nvidia Report, Ambarella Soars 20%, Hertz Strengthens Board, Apple Cuts Jobs • IH Market News • 08/28/2024 09:50:36 AM
- Apple Names New CFO, Sony Hikes PS5 Price in Japan, Santander Launches Share Buyback • IH Market News • 08/27/2024 09:35:22 AM
- Boeing: China Commercial Fleet to More than Double by 2043 for Growth and Modernization • PR Newswire (US) • 08/27/2024 03:30:00 AM
- IBM Closes China Research Division, Uber Fined $324M, Starliner to Return Without Astronauts • IH Market News • 08/26/2024 12:58:21 PM
- Cruise and Uber Join Forces for Robotaxis, Alibaba Shifts Primary Listing to Hong Kong, Altria Hikes Dividend 4.1% • IH Market News • 08/23/2024 12:20:26 PM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM