Home World News United States News Boeing shares fall after cancelling airline conference call on 737 issues
United States News

Boeing shares fall after cancelling airline conference call on 737 issues

Share
boeing shares fall after cancelling airline conference call on 737 issues
Share
104987743 GettyImages

Boeing shares fell 4.1 percent in premarket trading Tuesday after the company canceled conference call with airlines to discuss systems on the 737 MAX model which crashed in Indonesia in October.

A 737 MAX operated by Lion Air crashed on Oct. 29, killing all 189 people on board. It was the first major accident involving the Boeing’s latest version of its popular narrow-body plane. Since the crash, investigators have been looking at whether or not the pilots were fully aware of changes in the software of the 737 MAX for a particular part of the plane and how it reacts in extreme situations.

Instead of a conference call, the aerospace giant will continue contact with individual airlines on a regular basis, CNBC has learned. Boeing has steadily spoken with different operators of the 737 MAX airplane over the last two weeks.

But the reaction among shareholders in the stock Tuesday furthers the perception that Boeing has not been forthright with its customers. Airlines, as well as members of the pilot’s union, told CNBC that Boeing had not provided detailed updates about changes to the 737 MAX’s software system.

However, CEO Dennis Muilenburg adamantly denied in an email to employees on Monday that Boeing has withheld information.

“Continued media speculation has introduced false assumptions. It’s important you know the facts to the extent we can share them at this stage of the investigation,” Muilenburg wrote in the email.

“I have supreme confidence in all of you and our products, including the 737 Max, but when it comes to safety, our standards of excellence can never be too high,” Muilenburg added.

Indonesia investigators are expected to release a preliminary report regarding the Lion Air crash on Nov. 28 or 29.

Share

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest Posts

Related Articles
The Absolute Worst-Dressed Attendees At Lauren Sanchez & Jeff Bezos' Wedding
PoliticsUnited States News

Worst Dressed at Lauren Sanchez & Jeff Bezos’ Wedding

It was a competition to see whether any guest could dress worse...

Paris Hilton's Shady Take On Trump's Notorious Tan Was Right On Target
PoliticsUnited States News

Paris Hilton’s Snarky Take on Trump’s Orange Glow Hits the Mark

Paris Hilton once claimed that she voted for Donald Trump, but she...

Melania's Response To Donald's Alleged Affairs? A Masterclass In Indifference
United States NewsPolitics

The Quiet Strength of Melania Trump: Navigating Scandal with Grace and Silence

Donald Trump and alleged affairs are certainly nothing new, but if they've...

Kimberly Guilfoyle Laces Her Tacky 'Fits & Extreme Photoshop With Some Trump Family Shade
United States NewsPolitics

A Glimpse into Kimberly Guilfoyle’s Style, Shade, and Shifting Alliances

While dressing like a character from "The Hunger Games," Kimberly Guilfoyle is...