Bartis HK - Boeing Stock Stalls, Spirit AeroSystems Drills 737 Delivery Schedule

Bloomberg reported late Wednesday that Dow Jones aviation and military major Boeing (BA) uncovered a flaw that would cause delivery of its 737 Max plane to be delayed.
CENTRAL, Hong Kong - Sept. 5, 2023 - PRLog -- Boeing's shares fell over 2% in early Thursday trading. Spirit AeroSystems (SPR), once again the obvious root of the issue, fell more than 6%.

Spirit was found to have poorly drilled holes in 737 Max fuselage components that assist regulate cabin pressure. According to reports, inspections revealed hundreds of misaligned and duplicate holes. Nonetheless, the Federal Aviation Administration maintains the problem does not pose a safety risk.

Boeing said that it is investigating the effect, if any, on 737 deliveries. It is just the most recent Spirit-related difficulty for Boeing, which faced production slowdowns in late June due to a walkout by Spirit's mechanist union.

This year, Boeing has built around 38 737 Max aircraft each month, with a goal of delivering 400-450 planes by 2023. According to its Q2 financial report from late July, the business intends to increase manufacturing to 50 737s each month by 2025/2026.

Spirit AeroSystems manufactures about 70% of Boeing's narrowbody jet frames. Airbus also uses the firm to manufacture pylons. Pylons link jet engines to airplane airframes. Northrop Grumman (NOC), Lockheed Martin (LMT), Textron's (TXT) Bell Helicopter, and Bombardier are among Spirit's other important clients.

Stock in Boeing

BA shares fell 2.7%, leading the Dow industrials' early falls on Thursday. After breaking over the 223.91 purchase mark on July 26, Boeing stock is trading around the buy zone for a flat base. The stock is trading below its 21-day exponential moving average and its 10-day line.

Through Wednesday's closing, Boeing shares had risen 20% in 2023 as the tourism sector recovered and aircraft demand increased.

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