15:05:32 EDT Wed 08 May 2024
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Boeing CDR (CAD Hedged)
Symbol BA
Shares Issued 350,000
Close 2024-02-29 C$ 35.78
Market Cap C$ 12,523,000
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Globe/wire say Boeing promises FAA it will do better

2024-02-29 07:50 ET - In the News

The Globe and Mail reports in its Thursday edition that Boeing must develop a comprehensive plan to address "systemic quality-control issues" within 90 days, the head of the U.S. Federal Aviation Administration said Wednesday. A Reuters dispatch to The Globe says that the head of the Federal Aviation Administration (FAA) demanded the plan in a statement critical of the plane maker following an all-day meeting with chief executive officer Dave Calhoun on Tuesday."Boeing must commit to real and profound improvements," FAA administrator Mike Whitaker said in the statement. "Making foundational change will require a sustained effort from Boeing's leadership, and we are going to hold them accountable every step of the way, with mutually understood milestones and expectations." Mr. Calhoun said in a statement the Boeing leadership team is "totally committed" to addressing FAA concerns. "We have a clear picture of what needs to be done," Mr. Calhoun said in a statement. Boeing has scrambled to explain and strengthen safety procedures after a door panel detached during a Jan. 5 flight on a new Alaska Airlines 737 MAX 9, forcing pilots to make an emergency landing while passengers were exposed to a gaping hole at 16,000 feet.

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