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Trouble Continues for Boeing as Stock Plummets, Investigations Continue

by Aoife O’Riordan

Mar 20, 2024

© Wirestock | Dreamstime.com

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As if 2024 could not get any worse for Boeing, more incidents with its aircraft across the world caused its stock to plummet and trust in its aircraft to decrease drastically. In fact, the company’s stock has lost a quarter of its value this year alone. On March 11, Boeing’s stock fell 3 percent and then another 1.5 percent in premarket trading on March 12. Overall, the stock is down 29 percent this year.

On March 13, an American Airlines flight was forced to make an emergency landing in California after the pilot reported a potential mechanical issue. The flight, operated with a Boeing 777 plane, landed at Los Angeles International Airport with all passengers and crew making it off the aircraft safely. The incident marks at least the sixth reported incident involving a Boeing plane in the last week. But these incidents stretch all the way back to early 2024.

In early February, a United Airlines 737-8 Max reported the flight controls jammed as it landed in Newark (EWR). The plane’s captain reported the issue during the landing rollout. While no injuries were reported, the National Transportation Safety Board is investigating the cause of the jam. That specific plane has been removed from service for inspection and investigation.

Injuries did occur on another recent Boeing plane. As recently as March 11, a LATAM Airlines-operated flight from Australia to New Zealand, operated by a Boeing 787 Dreamliner, suddenly plunged mid-flight. The drop injured dozens of passengers and crewmembers, and the pilot reported he briefly lost control of the aircraft.

New Zealand’s Transport Accident Investigation Commission reported on March 12 it had seized the aircraft’s black box after the “technical” failure. Boeing has advised airlines to check the 787’s cockpit seats following the mishap.

Adding to more problems for Boeing, in early March, the National Transportation Safety Board said Boeing had not yet provided the company’s records documenting the steps taken on the assembly line for the door plug replacement from the Alaska Airlines jet. This is because these records don’t even exist.

The Federal Aviation Authority revealed on March 4 Boeing failed 33 of its 89 audits during an examination following the Alaska Airlines door incident.

In the FAA’s release, it noted, “To hold Boeing accountable for its production quality issues, the FAA has halted production expansion of the Boeing 737 MAX, is exploring the use of a third party to conduct independent reviews of quality systems, and will continue its increased onsite presence at Boeing’s facility in Renton, Washington, and Spirit AeroSystems’ facility in Wichita, Kansas.”

Of course, conspiracies now abound, especially since Boeing whistleblower John Barnett, a man who warned the public of Boeing’s safety flaws, was found dead March 12. Barnett, 62, was a former Boeing quality inspector who filed a whistleblower complaint over the plane’s alleged safety flaws. When he came forward with his complaints, it was met with hostility from the company.

Barnett’s death, which appears to the results of a self-inflicted gunshot wound, is, his loved ones claim, the result of years of post-traumatic stress disorder and anxiety attacks from coming forward after years working for Boeing. Barnett, following his retirement in 2017, also launched a separate legal action against Boeing, accusing the company of hindering his career and attacking his character.

One of Barnett’s safety complaints regarded metal shavings found on the aircraft. Barnett said these shavings had the potential to cut wiring connecting the flight controls. In 2017, the FAA ordered Boeing to clear the shavings from Dreamliners, in which Boeing said it would aim to improve the design of the nut used to secure the metal fasteners that create the metal shavings.

Do you think these recent Boeing incidents are irreversible to its reputation? Have these recent incidents swayed your opinion of Boeing? Would you rather fly a Boeing or Airbus aircraft? Tell us your thoughts. Email us at [email protected]. Please include your full name and location.

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