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Boeing Shares Fall Amid Aircraft Safety, Production Concerns
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Boeing Shares Fall Amid Aircraft Safety, Production Concerns
Mar 12, 2024 9:36 AM

12:16 PM EDT, 03/12/2024 (MT Newswires) -- Boeing ( BA ) shares were more than 4% lower in recent Tuesday trading amid concerns that the safety crisis triggered in January by the mid-air door panel blowout of an Alaska Airlines jet continues to weigh on the aircraft maker's production.

US airlines have warned that their plans to boost capacity are now in jeopardy due to plane delivery delays from Boeing ( BA ),

Reuters reported Tuesday.

The news agency quoted United Airlines (UAL) Chief Executive Scott Kirby as saying at an event that "Boeing ( BA ) deliveries are going to be way behind this year."

Southwest Airlines ( LUV ) said Tuesday in a regulatory filing that it has revised its Q1 guidance after Boeing ( BA ) said it will be delivering only 46 737-8 jets this year, compared with the 79 the airline was expecting.

A Federal Aviation Administration audit of the manufacturing process for the 737 Max, initiated after the Alaska Airlines incident, that found Boeing ( BA ) failed 33 of 89 product audits, according to a report by The New York Times on Tuesday.

"We continue to implement immediate changes and develop a comprehensive action plan to strengthen safety and quality, and build the confidence of our customers and their passengers," Boeing ( BA ) told MT Newswires in an emailed statement.

Meanwhile, The Washington Post reported Tuesday that John Barnett -- a former Boeing quality manager who had raised safety concerns -- was found dead this week in South Carolina.

The report said that Barnett died on March 9 of an apparent self-inflicted gunshot wound, according to the Charleston County coroner's office. A police investigation is ongoing, the report said.

Boeing ( BA ) didn't immediately respond to a request for comment by MT Newswires.

Price: 185.94, Change: -6.55, Percent Change: -3.40

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