Following are edited excerpts from
a current report in The New York Times:
The Federal Aviation Administration on Thursday said it had opened an investigation into whether Boeing failed to ensure that its 737 Max 9 plane was safe and manufactured to match the design approved by the agency. “This incident should have never happened and it cannot happen again,” the agency said.
In a letter to Boeing dated Jan. 10, the F.A.A. said that after the Portland incident, it was notified of additional issues with other Boeing 737 Max 9 planes. The letter does not detail what other issues were reported to the agency.
Alaska and United Airlines, which operate most of the Max 9s in use in the United States, said on Monday that they discovered loose hardware on the panel when conducting preliminary inspections on their planes.Before the announcement on Thursday, the F.A.A. had been working with Boeing on revising the company’s instructions for inspecting 171 grounded 737 Max 9 planes. The announcement of the revision came after reports of loose bolts from two airlines.
“Boeing’s manufacturing practices need to comply with the high safety standards they’re legally accountable to meet,” the F.A.A. said in the statement announcing the investigation.
A former chief counsel and acting deputy administrator of the F.A.A. said that by notifying Boeing of its investigation, the agency had set in motion a process that could result in an enforcement action against the company. In other such cases, the F.A.A. has imposed fines and reached agreements requiring companies to make changes to fix problems the regulators have identified.
The F.A.A. had to move quickly because it could not afford to have travelers worrying about the safety of Boeing planes, said Robert Mann, a former airline executive who is now an aviation industry consultant. Mr. Mann said the F.A.A. would probably take a hands-on approach to inspecting the 737 Max 9 planes.
“This is a recognition of a very long standing problem and is a very public rebuke,” Mr. Mann said.
The F.A.A.’s investigation provides an opportunity for Boeing and the agency to make sure they have determined whether issues with the 737 Max 9 planes are isolated or systematic, said Billy Nolen, the agency’s former acting administrator. “That’s something they will know by the time they get through some of these 171 aircraft,” he said.
Mr. Nolen said the F.A.A. is responsible for making sure every component of an aircraft meets the agency’s standards. The fact that airlines have found loose bolts on other Max 9 jets provides ample reason for the agency to open an investigation.
Note: Text emphasis in above was added.
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Boeing is facing a formal investigation into whether it made sure 737 Max 9 planes were “in a condition for safe operation” after a cabin panel blew off during an Alaska Airlines flight.
“This incident should have never happened, and it cannot happen again,” the Federal Aviation Administration said, announcing an investigation into whether the planemaker “failed to ensure” the jets complied with safety regulations.
The FAA notified Boeing on Wednesday that it had launched an investigation “to determine if Boeing failed to ensure completed products conformed to its approved design and were in a condition for safe operation in compliance with FAA regulations”.
The investigation is a result of Friday’s incident and “additional discrepancies”, the FAA said in a statement. “Boeing’s manufacturing practices need to comply with the high safety standards they’re legally accountable to meet.”
Shares in Boeing, which have already declined sharply this week, were trading down by 1.7% on the New York stock exchange on Thursday.
Alaska and United said on Monday they had found loose parts on multiple grounded aircraft during preliminary checks, raising new concerns about how Boeing’s bestselling jet family is manufactured.
The carriers still need revised inspection and maintenance instructions from Boeing that must be approved by the FAA before they can begin flying the planes again.
Boeing on Tuesday told staff the findings were being treated as a “quality control issue” and checks were under way at Boeing and supplier Spirit AeroSystems, Reuters reported previously.
Article: Boeing Stock Is on a Tear. This Is Why. (By Al Root / Dec. 13, 2023)
“Boeing stock has risen by more than 20% over the past month. Boeing stock hit a 52-week high on Wednesday, continuing a surge fueled by factors that have as much to do with Wall Street as with the commercial aerospace industry. … Shares have risen nine of the past 10 days and are up about 22% over the past month. …Shares closed at a new 52-week high on Tuesday and reached another intraday 52-week high on Wednesday, trading above $250 a share.
“Wall Street deserves most of the credit for the gains. Two analysts, from Deutsche Bank and RBC, upgraded shares to Buy from Hold over the past 30 days. Two other analysts, from Stifel and William Blair, launched coverage of Boeing stock with Buy ratings.” (Excerpt from Barron’s 12/13/23)
So much for the “experts.”