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Skittish investors just don’t give up

Boeing

the benefit of the doubt

Boeing

(Ticker: BA) The share fell in premarket trading by about 3% after an engine failure

United Airlines

777 Jet Still affected by the nearly two-year saga in which the 737-MAX Jet is grounded, investors are selling Boeing stock citing safety issues

The reaction to Boeing stock, if it’s understandable, is still a little strange. Boeing doesn’t make the engines or doesn’t service the 777 that the bug occurred had Pratt & Whitney 4000-112 engines Pratt’s a division of

Raytheon Technologies

(RTX)

The flight in question, United 328, left Denver for Hawaii when the correct engine suffered an “uncontrolled failure.” Engine parts left their housing, the nacelle, and landed on the ground. Fortunately, the plane made it back to the airport without injuries

“Boeing is actively monitoring recent events related to United Airlines Flight 328. While the NTSB investigation is ongoing, we have recommended that 69 operational and 59 in-stock 777s be operated with Pratt & Whitney 4000-112 engines to stop until the FAA has determined the corresponding inspection protocol, “said a statement by Boeing published on Sunday

Pratt & Whitney has also issued a brief statement that reads in part: “Pratt & Whitney is actively coordinating with operators and regulators to support the revised inspection interval of the Pratt & Whitney PW4000 engines for Boeing 777 aircraft”

Boeing and Raytheon were not immediately available for additional comments on engine maintenance practices or possible causes of failure. United Airlines also did not immediately respond to a request for comment

After the accident, the Japanese Civil Aviation Bureau and Federal Aviation Administration ceased operations on 777 jets powered by Pratt & Whitney 4000-112 engines, and Boeing is backing the move, which feels like the right decision

“Initial FAA results suggest two broken fan blades,” wrote Rob Stallard, aerospace analyst with Vertical Research Partners, in a research report Monday, pointing out former NTSB chairman Jim Hall said Let this be another example of “cracks in our culture in aviation” safety (that) needs to be addressed ”

Raytheon stock was down about 2% in premarket trading, however, United Airlines shares are up about 1.5%

S&P 500

and

Dow Jones industry average

Futures were down 0.5% and 07% on Monday morning

Boeing stocks are up about 2% since the start of the year, but have fallen nearly 50% since the beginning of March 2019, when a second crash of the 737 MAX within a few months led to the global bottom of Boeing’s newest model, Single- Gang planes

The MAX accidents have resulted in numerous changes at Boeing, including the establishment of a board-level safety committee

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Boeing stock

World News – USA – Boeing stock falls on 777 engine failure That’s wrong

Source: https://www.barrons.com/articles/boeing-stock-falls-on-engine-failure-in-777-model-jet-thats-wrong-51614002230