Key Takeaways
- Boeing told regulators and clients that there is a possibility of loose bolts in the rudder control system of new 737 MAX jets, according to the Federal Aviation Administration (FAA).
- The loose bolts were found by an unspecified airline during routine maintenance.
- This is the latest manufacturing issue with Boeing’s 737-MAX model, which was grounded for two years after a flaw in its flight stabilizing system was involved in two fatal crashes.
Shares of Boeing (BA) fell Thursday after the Federal Aviation Administration (FAA) said the jet maker had informed it and airlines of a possible loose bolt in the rudder control system of new 737 MAX jets.
Boeing informed regulators and airlines of the possible defect after an unspecified airline discovered a bolt with a missing nut during routine maintenance, according to the FAA. Boeing subsequently inspected undelivered jets and found an improperly tightened nut in one of its aircraft.
It is the latest in a string of 737 MAX-related setbacks for the company this year. Deliveries of some 737 MAX models were temporarily halted in April after Boeing discovered a problem with certain parts supplied by Spirit AeroSystems (SPR). The company discovered another manufacturing defect in Spirit-supplied parts in August, leading it to lower its delivery goal in October.
The 737 MAX was grounded for nearly two years in March 2019 after a flight stabilizing system was involved in two fatal crashes in the span of five months.
Boeing shares traded about 1.6% lower at 11 a.m. Eastern Time Thursday but were still up nearly 32% for the year.