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Investors Business Daily
Investors Business Daily
Business
HARRISON MILLER

Boeing Stock Slides After FAA Urges Additional Safety Inspections For Another 737 Model

The Federal Aviation Administration late Sunday urged additional inspections of mid-exit door plugs for another Boeing airplane model after grounding all 737 Max 9 jets earlier this month. Boeing stock rose a fraction early Monday with the Dow Jones Industrial Average.

The FAA recommended visual inspections of mid-exit door plugs for Boeing 737-900ER jets to ensure the fuselage insert is properly secured after some operators found issues with the bolts during inspections. The 737-900ER is not part of the newer Max fleet but uses the same door-plug design as the 737 Max 9.

The door plug has not created any known problems with the 737-900ER, which has logged over 11 million ours of operation across 3.9 million flight cycles, the FAA noted in its announcement.

The recommendation comes after an emergency landing, forced on Jan. 5 when an emergency exit door plug blew away from a 737 Max 9 airliner during Alaska Airlines flight 1282.

Last week, the FAA announced it is increasing oversight of the Dow Jones behemoth and investigating Boeing's manufacturing practices and production lines, including those involved with supplier Spirit AeroSystems. Meanwhile, all 737 Max 9 jets with door plugs will remain grounded until a review of the inspection and maintenance process is completed and satisfies FAA safety requirements.

Boeing Stock

Boeing stock rose slightly early Monday. Shares faded more than 1.3% premarket, among the early laggards in the Dow. BA stock tumbled 17.5% to kick off 2024 following the 737 Max 9 grounding.

Meanwhile, SPR stock inched up 0.5% Monday morning.

You can follow Harrison Miller for more stock news and updates on X/Twitter @IBD_Harrison

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