Boeing on back foot again as FAA launches investigation

Boeing stock was again on the back foot in New York as investors reacted to news of the latest inquiry into its quality control and safety.

The US Federal Aviation Administration (FAA) said it had launched an investigation regarding inspections and record keeping for Boeing’s 787 Dreamliner aircraft.

The aircraft manufacturer, in April, voluntarily informed the FAA that checks on bonding between the wings and fuselages on some Dreamliners may not have been completed. That followed a ‘whistleblower’ employee reporting their concerns to the regulator.

Boeing said there are no immediate risks to safety, as it confirmed it would now re-inspect jets that are due to be delivered to airlines.

“It will impact our customers and factory teammates because the test now needs to be conducted out of sequence on aeroplanes in the build process,” a Boeing spokesperson said.

It is the latest negative episode and scrutiny on Boeing following an incident in January which saw a plane door fall off an Alaska Air 737 jet mid-flight.

In New York, Boeing stock was down only slightly, trading 0.3% lower at $177.85. The aerospace stock is down more than 29% in the year to date.