Boston, MA 12/16/2013 (wallstreetpr) – The Boeing Company (NYSE:BA) it seems to have hit some turbulent air pockets over the year. This was just not in just the US markets but globally as well.
Technical snags galore
In India, several forced landings; including a major disruption in which one of the doors broke free from a flying aircraft has definitely put the pressure on BA.
In the US, the company has been in some trouble over the year and did have some of its aircraft grounded until the technical snag was assuredly overcome.
In recent months, as late as the last week of November, BA had to announce that BA fleets which ran on GE engines on 787 and 747-8s should take care of engine icing. However, GE was quick to announce a software fix which was to take care of the issue. This is expected to be available by March 2014.
The issue was a drop in thrust when aircraft were flying at high altitude. When six such incidents were notified and Japan Airlines decided not to fly the 787 affected aircraft, The Boeing Company (NYSE:BA) was in deep trouble.
Additionally, BA has had to pay compensation to the tune of $33 million to a Polish airline for these snags. The claim settlement will be to the tune of $32.9 million and is expected to be completed in cash.
Reportedly South Korea has placed an order for 40 units of Lockheed Martin F-35 fighter planes. This has been a large order loss for BA in many ways.
Only Good news
The Boeing Company (NYSE:BA), it appears has finally found the right facility to begin production of 787 Dreamliner, expected to begin by 2016-in South Carolina. The company is in the process of finding other states to move its facility for the manufacture of 777X as talks with Washington-based labour contracts fails.