Boeing seeks to exit crisis mode as it reports results sabcnews
Boeing which is responsible to two plane crashes will report earnings on Wednesday for the first time since a deadly March 10 plane crash plunged the company into crisis-mode.will have a chance this week to reset the narrative as it aims to pivot from two deadly crashes that have grounded a top-selling plane.
The events come as Boeing’s 737 MAX remains grounded globally following March’s Ethiopian Airlines crash. Together with the Lion Air crash of October, accidents involving 737 MAX aircraft have claimed 346 lives.Federal Aviation Administration Adding to Boeing’s travails, The New York Times on Sunday published an expose claiming the company had left debris on 787 aircraft during manufacturing, potentially threatening safe operations, and printed allegations from former employees who said they had been punished for raising safety concerns.
But analysts will want to gauge whether to lower expectations further due to the hit from the production cut or because of other impacts, such as compensation to airlines that have been forced to ground their planes. Boeing also faces the risks of an embarrassing rebuke by investors if more than 50 percent side with a shareholder proposal for the company to make its chairman an independent director, a shift from the current structure in which CEO Muilenburg also serves as director.
“The company faces serious challenges in regaining the confidence of regulators, airlines, pilots and passengers worldwide,” ISS said in a note to clients.
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