Why Shares of Boeing Are Declining Today
Shares of Boeing (NYSE: BA) fell more than 5% on Friday after reports surfaced suggesting company employees misled the Federal Aviation Administration (FAA) about the safety system that eventually led to the grounding of the company's 737 MAX aircraft. The new disclosures are sure to raise more questions about Boeing's handling of efforts to win certification for the MAX, which was involved in two fatal crashes before its grounding.
According to Reuters, Boeing has turned over instant-message exchanges from 2016 between two employees discussing 737 MAX safety systems, with one employee saying "I basically lied to the regulators (unknowingly)" about issues with the plane's flight control systems.
Boeing's troubled 737 MAX. Image source: Boeing.
Source Fool.com
