Boeing’s (NYSE: BA) stock price took a hit today, falling by 1.33% and trading for $172.30 at the time of writing. This continues a year-to-date trend that has seen the company’s stock value drop by approximately 31%, or $79.62 per share.
The decline comes amidst several issues, including fresh whistleblower allegations that further doubt Boeing’s manufacturing practices and safety standards.
Boeing Whistleblower Says Shortcuts Taken in 787 Dreamliner Assembly
Sam Salehpour, a Boeing engineer, has come forward with claims that the company took manufacturing shortcuts in assembling its 787 Dreamliner and 777 jets.
Salehpour alleges that fuselage segments are not correctly fitted, potentially leading to catastrophic structural failures as the aircraft ages. These concerns have been raised repeatedly, and despite previous FAA interventions and Boeing’s internal tests asserting no immediate safety issues, the allegations persist in pointing to significant long-term risks.
This is not the first time Boeing has faced scrutiny over its manufacturing practices. The company has been under a microscope since the two fatal 737 MAX crashes that led to a worldwide grounding of the fleet.
Issues with the 737 MAX focused on software and failure to disclose changes to flight control systems. Additionally, whistleblower John Barnett previously reported quality control issues at Boeing’s South Carolina plant related to the 787 Dreamliner, which were substantial enough to temporarily halt deliveries.
FAA and Other Regulatory Bodies Tightened Oversight
Recent developments have only intensified the focus on Boeing’s handling of internal safety reports and whistleblower complaints. The death of John Barnett under mysterious circumstances last month has drawn significant media attention and public scrutiny. Barnett was a known whistleblower against Boeing, and his passing has raised questions about the company’s treatment of those who raise concerns about safety and quality.
The FAA and other regulatory bodies have tightened oversight following these repeated quality and safety failures, with ongoing investigations into new claims by Salehpour and others.
As Boeing continues to navigate these challenges, the impact on its stock price and reputation remains to be seen. The company must work diligently to address these issues and rebuild trust with regulators, customers, and the public if it hopes to regain its footing in the competitive aerospace industry.
Disclaimer: The author does not hold or have a position in any securities discussed in the article.
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