News
James B. Bell
- January 24, 2024
Shares of Spirit AeroSystems saw a boost on Wednesday following a report indicating that the company may not be accountable for the blown-out panel on a Boeing flight. Spirit AeroSystems stock rose 6.9% to $28.53 in afternoon trading, despite a 10% decline since the beginning of the year.
According to the Seattle Times, the responsibility for improperly installing the panel lies with Boeing mechanics, as suggested by a person familiar with the work. Additionally, an anonymous whistleblower claimed online that the panel had been removed for repairs and then reinstalled at Boeing's final assembly line.
The incident involving a blowout of a door plug on a Boeing 737 MAX 9 plane mid-flight prompted federal safety officials to include Spirit AeroSystems in the investigation. It was revealed that Spirit had produced the door plug in question. The Federal Aviation Administration is currently conducting a thorough investigation into the matter.
Boeing has previously placed the responsibility of installing door plugs in fuselages on Spirit AeroSystems, who then ships them to Boeing via rail.
PREVIOUS POST
SAP's Job-Cutting Plan and Profit Boost
Related Articles
U.S. Stock Futures Decline as Treasury Yields Rise
U.S. stock futures declined as Treasury yields rose, while investors monitored earnings season and inflation concerns.
U.S. Stock Futures Maintain Momentum as Treasury Yields Drop
U.S. stock futures show mixed results as most of the previous day's rally is retained despite lower Treasury yields. Global economic concerns and key earnings r...
S&P Global to Discontinue Alphanumeric ESG Scores in Credit Analysis
S&P Global will stop using alphanumeric ESG scores, opting for analytical narratives in credit rating reports. This decision comes amid increased scrutiny on ES...