The Justice Department is planning to ask Boeing to plead guilty for deceiving federal regulators about certain aspects of the 737 Max 8, which led to two fatal crashes in 2018 and 2019 , according to Reuters.
Analyst Says Boeing Is Too Big To Fail
17.06.2024 - 22:03 / travelpulse.com / North America / Rich Thomaselli / Spirit Aerosystems / David Calhoun
‘Too big to fail.’ Now, where have we heard those words before?
Oh yeah, they made a whole movie about it in 2011 about the collapse of the housing market in 2008.
Those haunting words came back again when Bank of America analysts said that Boeing was too big to fail and sighted the reason being that the airplane manufacturer was only one of two major companies that specialized in what it does.
“Boeing remains uniquely positioned to the robust air traffic demand environment, with the moat that the duopoly creates,” Ronald Epstein, an analyst at Bank of America who covers airlines, wrote in an update. “However, on the other hand, turning around operations could take time and uncertainties remain in the near future.”
Boeing and its protocols and safety practices have been under intense scrutiny since a January 5 incident when a door panel fell off an Alaska Airlines plane mid-flight. The company, along with Airbus, is one of the two largest airplane makers in the world.
The uncertainties he mentioned include trying to buy back a former division that became Spirit Aerosystems, a search for a new CEO for David Calhoun, who is retiring at the end of the year, And the internal strife that has ensued this year.
The company has also lost more than $30 billion over the last five years.
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