Boeing's New CEO Has Not Distinguished Himself, Cramer Says
New day, same Boeing story?
Boeing didn't give the Federal Aviation Administration documents about changes it made to a key flight control system blamed in two deadly crashes of its 737 MAX jet, according to a government report to be released Wednesday.
The Associated Press, citing the government report, said government personnel involved in flight tests knew about changes Boeing made to the MCAS flight-control system but engineers responsible for certifying the 737 MAX didn't.
FAA engineers didn’t perform a detailed examination of the flight-control system until after the plane's first crash in October 2018 off the coast of Indonesia. A second crash of the jet five months later in Ethiopia brought the death toll in the two crashes to 346.
This followed Norwegian announcing that it canceled orders with Boeing and it said it's suing for losses.
Norwegian Air announced it has canceled orders for 97 Boeing aircraft and will claim compensation from the U.S. airplane maker for the groundings of the 737 MAX and also for 787 engine troubles that it said dented profits even before the coronavirus pandemic pushed the global airline industry into a tailspin.
The cancellation includes 92 737 MAX, five 787 Dreamliners and what are called eGoldCare service agreements that extend to both types of planes. Norwegian Air did not specify the amount of compensation it was seeking from Boeing.
“Norwegian has in addition filed a legal claim seeking the return of pre-delivery payments related to the aircraft and compensation for the company’s losses related to the grounding of the 737-MAX and engine issues on the 787,” the carrier said.
Jim Cramer weighed in on what's going on with Boeing.
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