Boeing crisis deepens, FAA probes 737 MAX production
The agency also confirmed that it will not approve the grounded commercial jet for flight before year end
Stocks impacted: Boeing Co (BA)
The US Federal Aviation Administration has initiates an investigation related to Boeing's production issues. The agency also confirmed that it will not approve the grounded commercial jet for flight before year end, as a series of steps still must be completed before 737 MAX approval. Many lawmakers insist that the approval might get delayed till January and probably even to February. The former manager of the company said that worker fatigue and schedule pressure raised safety risk and undermined quality in the factory where the company produces its 737 Max, which adds to Boeing’s existing problems. As a reminder, the company warned last week about a possible temporary halt in production due to a significant delay in the return of its 737 Max aircraft. The company’s stocks finished 0.6% higher on Wednesday but could suffer losses on the news during the upcoming session.
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