Will Recent News Hurt Boeing’s Stock?
T = Trends for a Stock’s Movement
Boeing is an aerospace company. It focuses primarily on engineering, information technology, research and development, test and evaluation, technology strategy development, environmental remediation management, and intellectual property management. The company operates in five segments: Commercial Airplanes, Boeing Military Aircraft, Network & Space Systems, Global Services & Support, and Boeing Capital Corp.
Boeing needs to improve the reliability of its 787 Dreamliner to satisfy customers such as Norwegian Air Shuttle after a series of malfunctions with the new aircraft, Mike Fleming, vice president of 787 Services and Support, said Friday. The composite-material aircraft’s dependability now is about 98 percent, which is short of Boeing’s best-selling wide- body model, the 777, Fleming said at a news conference in Oslo.
“We’re not satisfied with where the airplane is today, flying at a fleet average of 98 percent,” Fleming said. “It’s going to take us time, just as it did on the 777.” The Dreamliner experienced a series of malfunctions after its introduction in 2011, including a three-month grounding of the global fleet last year after batteries on some planes caught fire. Norwegian Air, which built its budget long-range ambitions around the Dreamliner, has been hit by the snags because it doesn’t have a big-enough fleet to absorb outages.