Tuesday, May 28, 2024

HomeStock MarketSEC to investigate Boeing over statements on safety practices: report

SEC to investigate Boeing over statements on safety practices: report

The U.S. Securities and Exchange Commission (SEC) has opened an investigation into Arlington, Virginia-based Boeing Co. for statements the company made regarding safety practices, following an incident where a panel blew off an Alaska Airlines 737 Max 9 16,000 feet above Oregon in January.

Reuters reported that the SEC investigation will look into whether Boeing or its executives made statements misleading investors, according to a report from Bloomberg News, based on three sources familiar with the development.

Boeing declined to comment on the matter when Fox News Digital reached out to the company, while the SEC did not respond to requests for comment.

In January, a 737 Max 9 operated by Alaska Airlines was flying 16,000 feet above Oregon when a panel plugging the space reserved for an unused emergency door blew off the jetliner. Though pilots were able to land the Boeing 737 Max 9 safely, issues surrounding the plane came crashing down on the aircraft’s manufacturer.

FAA LAUNCHES NEW INVESTIGATION INTO BOEING AFTER COMPANY MAY HAVE MISSED SOME 787 DREAMLINER INSPECTIONS

Employees work on Boeing 737 Max airplanes at the Boeing Renton Factory in Renton, Washington on March 27, 2019.

Employees work on Boeing 737 Max airplanes at the Boeing Renton Factory in Renton, Wash., on March 27, 2019. (Jason Redmond/AFP via Getty Images / Getty Images)

In March, the Department of Justice opened a criminal investigation into the incident.

The FBI also began notifying passengers that they may be a “possible victim of a crime.” 

Boeing recently failed 33 aspects of a federal audit with a total of 97 points of noncompliance, according to The New York Times. The company passed 56 points of the audit.

FLIERS TRYING TO AVOID BOEING PLANES TURNING TO PRAYER AND ANTI-ANXIETY MEDS: REPORT

NTSB official analyzes Alaska Airlines blowout

Investigator-in-Charge John Lovell examines the fuselage plug area of Alaska Airlines Flight 1282 Boeing 737-9 MAX in January. (NTSB / Fox News)

Just last month, the Federal Aviation Administration (FAA) opened an investigation into Boeing after the company voluntarily informed the agency it may not have completed required inspections to confirm adequate bonding and grounding where the wings join the fuselage on certain 787 Dreamliner airplanes.

The FAA confirmed to Fox Business in a statement that they are investigating whether Boeing completed the inspections and whether company employees falsified aircraft records.

“As the investigation continues, the FAA will take any necessary action — as always — to ensure the safety of the flying public,” the FAA said.

WHISTLEBLOWER TESTIFIES BOEING IS PRODUCING DEFECTIVE PLANES, SAYS HE’S RECEIVED PHYSICAL THREATS

Alaska Boeing 737 Max 9

A plastic sheet covers an area of the fuselage of the Alaska Airlines N704AL Boeing 737 MAX 9 aircraft outside a hangar at Portland International Airport on Jan. 8, 2024, in Portland, Ore. (Photo by Mathieu Lewis-Rolland/Getty Images / Getty Images)

The FAA added that at the same time, Boeing is also reinspecting all 787 airplanes still within the production system and must also create a plan to address the in-service fleet.

Along with a safety crisis that has tarnished the company’s reputation, Boeing has faced Senate hearings and conducted a shakeup of its top management.

The investigation comes after several mishaps involving Boeing aircrafts over the past few months. 

Ticker Security Last Change Change %
BA THE BOEING CO. 178.51 -2.74 -1.51%

Fox News has tracked at least four incidents with Boeing aircraft in January, two in February and as many as 10 as of mid-March.

Since then, a wave of issues has continued to plague Boeing.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

In a matter of two months, two Boeing whistleblowers — Joshua Dean and John Barnett — died, and in late April, Southwest Airlines announced it was pulling out of several airports as it works through the financial fallout from Boeing delays.

In early March, United Airlines announced it was temporarily pausing pilot hiring due to new aircraft certification and manufacturing delays at Boeing. It also recently asked pilots to take unpaid time off as delays persist. 

Also in March, Boeing’s deliveries fell by half and the company reported its first quarterly revenue drop in nearly two years.

FOX Business News’ Stephen Sorace and Stepheny Price contributed to this report.


Source link

Bookmark (0)
ClosePlease login
RELATED ARTICLES
- Advertisment -spot_img

Most Popular

Sponsored Business

- Advertisment -spot_img