Boeing Shares Slide On Reports Of New 737 MAX Software Issue

Boeing Shares Slide On Reports Of New 737 MAX Software Issue

Boeing shares were hit early on following reports that the Air Force’s top military officer has sent Boeing Co.’s new CEO a blunt reminder that the ill-fated 737 Max passenger jet isn’t the only troubled project he has to rescue. There’s also the company’s failure to provide a combat-ready refueling tanker, nine years after Boeing won a competition for the $44 billion project.

“We require your attention and improved focus on the KC-46” tanker, General David Goldfein, the Air Force chief of staff, warned in a letter four days before Dave Calhoun took over as chief executive officer of the company.

“The Air Force continues to accept deliveries of a tanker incapable of performing its primary operational mission.”

But things just got even worse on reports that Boeing has found another software issue with the 737. ABC News’ David Kerley reports that during testing audit last weekend the 737’s two flight computers weren’t talking to each other at startup. It is unclear how long the fix will take, but will be done as other return to service work is conducted.

Boeing tells CNBC that it is “making necessary updates and working with the FAA on submission of this change, and keeping our customers and suppliers informed.”

But that was enough to send the stock down once again…

Leaving Boeing back near crucial support…

 


Tyler Durden

Fri, 01/17/2020 – 13:49

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Author: Tyler Durden

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