- Tools for Investors
- Stock News
- Investing Ideas
- Econ & Policy
- Personal Finance
Boeing (NYSE:BA) is meeting with officials from the Federal Aviation Administration on Friday to propose a redesign of the lithium-ion battery on board its 787 Dreamliner. The battery issue, which has eluded diagnosis for over a month, forced the grounding of Dreamliners around the world. As it stands, estimates for when the planes will be operational again are landing somewhere between mid-March and the beginning of April.
Reports indicate that the solution Boeing is proposing to the FAA includes a layer of insulation between the individual cells of the battery, as well as a stronger, stainless-steel box with a venting tube, should the new design also catch fire. Sources close to the matter told Reuters that Boeing is not considering abandoning lithium-ion technology, nor is it working on an alternative or back-up solution.
Of course, the sooner the ordeal ends for Boeing, the better. Major carriers like Japan Airlines and All Nippon Airways have already signaled their intention to seek some sort of compensation from Boeing. Other airlines that have had delivery of new Dreamliners could also seek damages, and many have already called on the company to help them find interim solutions. It’s unclear if United Air Lines (NYSE:UAL), which is in possession of six of the aircraft, will seek damages.
Don't miss one of the biggest bull markets in history! Covers Gold, Silver, Gold & Silver stocks, and miners.
There's always a bull market in some sector! Find the best opportunities in commodities.