Spirit

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<p class="has-drop-cap">Boeing announced that the firm could face delivery delays on several of its 737 MAX planes after one of its suppliers <a aria-label="had said (opens in a new tab)" href="https://www.reuters.com/business/aerospace-defense/boeing-pauses-deliveries-some-737-maxs-amid-new-supplier-problem-2023-04-13/" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">had said</a> the installation of fittings on the rear of the aircraft did not adhere to the standards. Boeing’s stock fell over 5.6% in premarket trading after the report.</p> 
<h3 id="boeing-pauses-737-max-deliveries-amid-supply-constraints">Boeing Pauses 737 MAX Deliveries Amid Supply Constraints</h3> 
<p>Shares of Boeing are down more than 5.6% in premarket trading Friday after the US plane manufacturer said it paused deliveries of some 737 MAX jets due to supply-related issues. The stock stood at $203.31 ahead of the market opening.</p> 
<p>According to Boeing’s statement on Thursday, the delivery halt comes from a quality problem with its supplier Spirit AeroSystems. Boeing said the issue, which could date back to 2019, is related to aft fuselage fittings provided by Spirit.</p> 
<p>Spirit provides Boeing with several critical components for its 737 MAX airplanes, including fuselage, thrust reversers, engine pylons, and wing parts. The supplier’s shares were down over 11% in the premarket.</p> 
<p>Boeing said the problem would likely impact a “significant” number of undelivered 737 MAXs in production and storage. As a result, the planemaker warned of fewer 737 MAX deliveries in the short term.</p> 
<blockquote class="wp-block-quote"> 
 <p>“We see more negative financial exposure to this news at Spirit than at Boeing. Boeing’s plans to boost production may need to wait, though we think management prioritizes supply chain momentum over inventory management.”</p> <cite>– said J.P. Morgan analyst Seth Seifman.</cite>
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<h3 id="boeing-s-stock-continues-to-fluctuate">Boeing’s Stock Continues to Fluctuate</h3> 
<p>The delivery delay marks the latest blow for Boeing and its share price, which has seen several significant swings this year. Last month, the stock fell roughly $4 in one trading session after the company <a aria-label="reported a quality problem (opens in a new tab)" href="https://www.barrons.com/articles/boeing-stock-four-reasons-bounce-back-fed-8b21e7c2" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">reported a quality problem</a> in its 767 refueling tanker used by the Air Force, adding the fix would affect its quarterly results.</p> 
<p>The planemaker has been grappling with quality problems lately, weighing on investors’ confidence in the stock. In February, the company <a href="https://edition.cnn.com/2023/02/24/business/boeing-787-dreamliner-halt/index.html" target="_blank" aria-label="halted deliveries (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">halted deliveries</a> of its 787 Dreamliner again, months after it restarted deliveries after a year-long wait. The move came due to the Federal Aviation Administration’s quality concerns over Boeing’s forward pressure bulkhead.</p> 
<p>Still, the company’s stock remains up more than 60% in the past six months, boosted by a turnaround plan announced at the start of the year. Most of these gains came during the final three months of 2022, when the company added $42 billion to its market value. The stock recovered significantly after getting battered in 2020 amid <a href="https://tokenist.com/the-full-impact-of-trumps-travel-ban-on-the-airline-industry/" rel="dofollow" class="deco-link">travel restrictions</a> due to the coronavirus pandemic. </p> 
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<p><em><strong>Could we see another significant downfall in Boeing’s shares due to the latest delivery halt? Let us know in the comments below.</strong></em></p> 
<p>The post <a rel="nofollow" href="https://tokenist.com/boeing-falls-5-5-premarket-after-737-max-deliveries-halted/">Boeing Falls 5.5% Premarket After 737 Max Deliveries Halted</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Boeing Falls 5.5% Premarket After 737 Max Deliveries Halted

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