Boeing CEO Dave Calhoun faces Senate hearing over safety concerns.

From CNBC: 2024-06-18 05:00:01

Boeing CEO Dave Calhoun met with Sen. Sullivan regarding safety issues, including 737 MAX 9 planes’ grounding. Calhoun will testify before a Senate panel about safety and manufacturing crises, with no replacement named yet. Boeing potentially faces US prosecution after violating a 2021 settlement on 737 Max crashes, with families urging prosecution. The FAA has halted Boeing’s production increases and may not lift restrictions for several months, impacting big customers like Southwest and United Airlines. Boeing’s lower production has hurt cash flow, leading to a warning of cash burn this year and a more than 30% drop in share price. Boeing is addressing quality flaws and production issues to reduce defects and encourage workers to report problems. Spirit AeroSystems, a major Boeing supplier, discovered titanium in the supply chain with falsified documents, despite the material being confirmed as “airplane-grade titanium” after 1,000 tests. Boeing is still pursuing a deal to purchase Spirit AeroSystems.



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