Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nyse  >  Boeing Company (The)    BA

BOEING COMPANY (THE)

(BA)
My previous session
Most popular
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Boeing : Shocked aviation world awaits Boeing black box probe in France

share with twitter share with LinkedIn share with facebook
share via e-mail
0
03/15/2019 | 12:39pm EDT
FILE PHOTO: Men unload a case containing the black boxes from the crashed Ethiopian Airlines Boeing 737 MAX 8 outside the headquarters of France's BEA air accident investigation agency in Le Bourget

PARIS/ADDIS ABABA (Reuters) - Investigators in France on Friday examined the black boxes of a Boeing 737 MAX that crashed in Ethiopia as the global airline industry waited to see if the cause was similar to a disaster in Indonesia months before.

Ethiopian Airlines Flight 302 crashed soon after take-off from Addis Ababa last weekend, killing 157 people, the second such calamity involving Boeing's flagship new model after a jet came down off Indonesia in October with 189 people on board.

In both cases, pilots asked to return minutes into flight.

Regulators have grounded the 737 MAX around the world, and the U.S. planemaker has halted deliveries of the several thousand planes on order for a model intended to be the future industry workhorse.

Parallels between the twin disasters have frightened travellers worldwide and wiped billions of dollars off Boeing stock.

U.S. authorities say information from the wreckage in Ethiopia and data on its flight path show some similarities.

Two sources said investigators retrieved a piece of a stabiliser, which moves the nose up and down, set in an unusual position - similar to that of the Lion Air plane that crashed in Indonesia.

Pilots were waiting anxiously for the investigation.

"Looking at the crash site photos, the aircraft appears to have nose-dived," Paul Gichinga, former head of the Kenya Airline Pilots Association, told Reuters.

"The pilot must have gotten some sort of indication that maybe the airspeed was unreliable or something and decided, instead of climbing and going to sort out the problem up there, the best thing was to return to have it sorted."

BOEING PLANS NEW SOFTWARE

Boeing, the world's biggest planemaker, has said the 737 MAX is safe, though it plans to roll out a software upgrade in coming weeks. Despite pausing shipments, it continued to produce at full speed at its factory near Seattle.

French authorities have the flight data and cockpit voice recorders, though Ethiopia is formally leading the investigation and U.S. experts are in Paris and Addis Ababa too.

First conclusions could take several days.

The New York Times said the captain, Yared Getachew, initially reported a "flight control" problem in a calm voice before asking to return in panicked tones three minutes into the flight. "Break break, request back to home," he told controllers, the newspaper reported, citing a person who reviewed the communications.

The jet initially flew below the minimum safe height for its climb, then once at higher altitude was oscillating up and down by hundreds of feet, all at abnormally fast speed, the Times said. It then disappeared from radar over a military zone and lost contact with controllers five minutes after take-off.

In Ethiopia, relatives have been visiting the charred and debris-strewn field to pay last respects. The victims came from 35 nations.

Diplomats fear trucks and excavators at the site could be destroying vital evidence, while some policemen have been taking selfies inside the security cordon.

FAMILIES "STUCK AND EMOTIONAL"

Israeli Ilan Matsliah came quickly to Ethiopia thinking it would be quick to find the remains of his brother for burial in accordance with Jewish tradition.

"More than 24 hours is a problem for us. But I have been here for more than 96 hours," the 46-year-old told Reuters.

"We are now stuck in the same place, the same as Monday. We are very emotional."

With heightened global scrutiny, the head of Indonesia's transport safety committee said a report into the Lion Air crash would be speeded up for release in July or August.

A preliminary report focused on maintenance, training and an anti-stall system.

As the ripple-effect from the Ethiopia crash spread, Canada's biggest carrier Air Canada suspended 2019 financial forecasts after grounding MAX jets it had expected to bring savings on fuel and maintenance.

U.S. bank Citi said it expected the grounding to eat into the profits of Southwest Airlines, which operates the world's biggest 737 MAX fleet, leaving the carrier facing a plane shortage and likely passenger compensation costs.Elsewhere, a potential new Chinese order for more than 100 jets worth well over $10 billion was put in doubt.

Legal experts said even non-U.S. families of the Ethiopia victims may be able to sue Chicago-based Boeing in the United States - where payouts are larger - as eight of the dead were American and plaintiffs may argue liability hinges on system design and safety decisions made by executives.

Shares in Boeing, one of the biggest companies by market capitalisation on the Dow Jones and a darling of the market, have fallen about 10 percent since the crash.

(Reporting by Richard Lough, Tim Hepher in Paris; Duncan Miriri and Aaron Masho in Addis Ababa; Omar Mohammed, Katharine Houreld and Maggie Fick in Nairobi; David Shephardson in Washington; Rishika Chatterjee, Savio D'Souza and Debroop Roy in Bengaluru; Jamie Freed in Singapore; Josephine Mason in London; Writing by Andrew Cawthorne; Editing by Angus MacSwan)

By Richard Lough and Aaron Maasho

Stocks mentioned in the article
ChangeLast1st jan.
BOEING COMPANY (THE) -2.83% 362.17 Delayed Quote.15.57%
SOUTHWEST AIRLINES -2.80% 49.32 Delayed Quote.6.11%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on BOEING COMPANY (THE)
04:58pBOEING : Plans Fixes to Make 737 MAX Stall-Prevention Feature Easier for Pilots ..
DJ
03:00pU.S. airlines prepare for 737 MAX tests, Southwest parks jets near desert
RE
06:42aBoeing gets first cancellation for MAX jets
AQ
06:37aBOEING : IndiGo hires around 100 pilots from Jet Airways
AQ
04:32aBOEING : Air Force Research Laboratory awarded $20m contract for Advanced Turbin..
AQ
03/22U.S. airlines sending teams to review Boeing 737 MAX upgrade this weekend
RE
03/22U.S. airlines sending teams to review Boeing 737 MAX upgrade this weekend
RE
03/22U.S. lawmaker seeks Boeing whistleblowers, some MAX 737 orders in jeopardy
RE
03/22BOEING : Gets $4.1 Billion Contract Modification From US Missile Defense Agency
DJ
03/22BA INVESTOR/WHISTLEBLOWER ALERT : Hagens Berman Alerts Boeing (BA) Investors to ..
PR
More news
Financials ($)
Sales 2019 111 B
EBIT 2019 14 655 M
Net income 2019 12 495 M
Debt 2019 6 106 M
Yield 2019 2,23%
P/E ratio 2019 16,38
P/E ratio 2020 14,38
EV / Sales 2019 1,89x
EV / Sales 2020 1,76x
Capitalization 204 B
Chart BOEING COMPANY (THE)
Duration : Period :
Boeing Company (The) Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends BOEING COMPANY (THE)
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 437 $
Spread / Average Target 21%
EPS Revisions
Managers
NameTitle
Dennis A. Muilenburg Chairman, President & Chief Executive Officer
Jenette E. Ramos Senior Vice President-Supply Chain & Operations
Gregory D. Smith CFO, EVP-Corporate Development & Strategy
Theodore Colbert Chief Information Officer & SVP-Data Analytics
Gregory L. Hyslop CTO, Senior VP-Engineering, Test & Technology
Sector and Competitors
1st jan.Capitalization (M$)
BOEING COMPANY (THE)15.57%204 438
AIRBUS SE36.49%100 538
DASSAULT AVIATION9.59%12 454
TEXTRON12.76%11 685
AVIC ELECTROMECHANICAL SYSTEMS CO LTD--.--%4 234
AVIC HELICOPTER CO LTD28.43%4 211