Jeff Sica, founder of Circle Squared Alternative Investments, discusses whether Boeing stock is a buy for Barney & Company.
Boeing CEO Dave Calhoun will visit parts supplier Spirit AeroSystems in Wichita, Kansas, on Wednesday, a company spokesperson confirmed to FOX Business.
Calhoun and Spirit CEO Pat Shanahan said employees were injured after a mid-air accident earlier this month in which a plug door panel was blown off the fuselage of a 737 Max Alaska Airlines plane flying at about 16,000 feet. He is scheduled to give a lecture on
Spirit manufactures aircraft for Boeing.
Video: Alaska Airlines passenger captures horrifying moment after parts of plane are blown into the air
Alaska Airlines Flight 1282 was bound for Ontario, California, but suffered decompression shortly after departing from Portland, Oregon. (Reuters/Reuters Photo)
Parts of the aircraft were recovered from the ground by investigators looking into what happened.
| ticker | safety | last | change | change % |
|---|---|---|---|---|
| BA | boeing company | 200.52 | -17.18 | -7.89% |
| SPR | spirit aero system | January 26th | -1.19 | -4.38% |
Although no one died, the backlash was swift. The Federal Aviation Administration is working with the National Transportation Safety Board on the investigation.
Alaska Airlines and United Airlines are the only two U.S. airlines using the 737 Max 9. Both airlines suspended operations to allow inspections to be completed while the FAA and NTSB investigated.
| ticker | safety | last | change | change % |
|---|---|---|---|---|
| alk | Alaska Airlines Group Co., Ltd. | 34.42 | -0.75 | -2.13% |
| UAL | United Airlines Holdings Co., Ltd. | 38.93 | -0.85 | -2.14% |
Boeing strengthens safety inspections of 737 MAX planes
In addition, at least six passengers are suing Boeing for injuries and psychological trauma, FOX Business reported.
Investigators are investigating a blown-off door plug on board an Alaska Airlines flight, but it remains unclear whether the panel was properly bolted on. (NTSB/FOX News)
Boeing CEO addresses 'tears' employees after Alaska Airlines crash
Investors are punishing themselves.
Boeing's stock price has fallen 23% since the beginning of the year, with much of the decline due to the Door scandal. The S&P 500 has changed little over the same period.
The aircraft manufacturer also announced that an independent team led by Adm. Kirkland Donald will conduct a detailed review of its commercial quality management system.
Alaska Airlines Flight 1282, Boeing 737-9 Max, Portland, Oregon. (NTSB/FOX News)
“Admiral Donald is a recognized leader in ensuring the integrity of the world's most complex and critical safety and quality systems,” Calhoun said in a statement.
Dave Calhoun, Boeing CEO (Getty Images/Christopher Pike/Bloomberg via Getty Images/Getty Images)
Mr. Calhoun gave an emotional speech to employees in the days following the incident.
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“We will admit our mistake and address this issue,” he said. “We will approach it with 100% and complete transparency every step of the way.”
