Boeing shares lower as it urges 737 MAX inspections

December 29, 2023 | 09:05

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Boeing shares fell Thursday after the US aviation giant said its 737 MAX aircraft should be inspected to check for loose hardware on plane rudder control systems.

Boeing shares lower as it urges 737 MAX inspections, illustration photo/ Source: freepik.com

The airplane maker recommended airlines undertake the inspection after an international operator discovered a bolt with a missing nut while performing routine maintenance, said a spokesperson for the US Federal Aviation Administration.

"The FAA will consider additional action based on any further discovery of loose or missing hardware," said the FAA spokesperson, adding that Boeing had also found an undelivered aircraft with a bolt not properly tightened.

The Boeing plane "has been remedied," said a company spokesperson.

"Out of an abundance of caution, we are recommending operators inspect their 737 MAX airplanes and inform us of any findings. We informed the FAA and our customers and will continue to keep them aware of the progress."

The inspection only lasts about two hours, but the issue comes on the heels of other manufacturing and production problems that forced the company to lower its delivery targets for the 737 MAX this year.

Shares of Boeing were down 1.2 percent at midday.

Vietnam Airlines orders 50 Boeing 737 MAX planes

On September11, Boeing and Vietnam Airlines announced that the carrier has selected the 737 MAX family to expand its single-aisle fleet, with a commitment to order 50 737-8 aeroplanes.