Boeing shares drop as 787 Dreamliner issues expand
Planemaker stops delivery of aircraft, but says it will not impact delivery outlook in 2023
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Shares of the Boeing Co. are falling Friday following the planemaker’s decision to halt deliveries of its 787 Dreamliner.
The world's largest aerospace company said the stoppage was due to a documentation issue related to a fuselage component.
On Friday, a Boeing spokesperson said the aircraft manufacturer uncovered an analysis error by a supplier related to the 787 forward pressure bulkhead.
"We notified the FAA and have paused 787 deliveries while we complete the required analysis and documentation," the spokesperson stated.
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Boeing Co
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BA | THE BOEING CO. | 139.97 | -5.20 | -3.58% |
Boeing said the issue has no immediate safety concerns for the in-service fleet, while adding that production will continue and airplane rework will not increase.
"We are communicating with our customers and will continue to follow the lead of the FAA," the spokesperson added. "While near-term deliveries will be impacted, at this time we do not anticipate a change to our production and delivery outlook for the year."
The current issue is unrelated to a previous quality problem involving gaps around the forward pressure bulkhead that was discovered by the FAA in 2021 and contributed to the delivery stoppage.
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United Airlines Boeing 787-9 takes off from Los Angeles international Airport on July 30, 2022 in Los Angeles, Calif. (AaronP/Bauer-Griffin/GC Images / Getty Images)
When Boeing obtained approval from the FAA to restart Dreamliner deliveries, the company said it was required to outfit those 787s with a modified version of the forward pressure bulkhead that would resolve previous quality problems.
That version of the component was given a temporary operational limit of four years, providing Boeing time to update its documentation.
The component acts as a barrier between the pressurized interior cabin and the radome (or nose cone). It was supplied by Spirit AeroSystems, which said it was too early to assert it made the "analysis error."
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| SPR | SPIRIT AEROSYSTEMS | 30.40 | -0.68 | -2.19% |
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A Latam Airlines plane is pictured after an emergency landing on the eve at Silvio Pettirossi International Airport in Luque, Paraguay, on Oct. 27, 2022. (NORBERTO DUARTE/AFP via Getty Images / Getty Images)
Some analysts said the latest hiccup in 787 deliveries should not result in any design changes and jets in service should continue to fly.
Boeing had expected to deliver 787s this month prior to the issue being found, a source told Reuters.
The deliveries will now be delayed until Boeing obtains FAA approval.
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Reuters contributed to this report.
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