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FAA audit hits Boeing 737 Max production over quality control issues
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The Federal Aviation Administration (FAA) on Monday said its production audit of Boeing 737 Max manufacturing processes and its supplier Spirit AeroSystems found multiple cases in which the companies allegedly failed to comply with manufacturing quality control requirements.
FAA investigators found “non-compliance issues in Boeing’s manufacturing process control, parts handling and storage, and product control.”
The agency said it provided a summary of these findings as an update to the public amid its investigation into production processes at the companies, although it didn’t publish the completed audit due to the ongoing nature of the investigation.
The FAA has given Boeing 90 days to outline its action plan in response to the audit’s findings. Last week, FAA Administrator Mike Whitaker said Boeing must develop a comprehensive plan to address “systemic quality control issues” following an all-day meeting with Boeing CEO Dave Calhoun and the aerospace giant’s safety team.
AMERICAN AIRLINES ORDERS 260 NEW PLANES, INCLUDING BOEING MAX JETS
The FAA report hit Boeing’s production quality control processes over a variety of “non-compliance” issues. (Photographer: David Ryder/Bloomberg via Getty Images / Getty Images)
“Boeing must commit to real and profound improvements,” Whitaker said following last week’s meeting. “Making foundational change will require a sustained effort from Boeing’s leadership, and we are going to hold them accountable every step of the way, with mutually understood milestones and expectations.”
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BA | THE BOEING CO. | 200.58 | +0.56 | +0.28% |
| SPR | SPIRIT AEROSYSTEMS | 34.35 | +1.33 | +4.03% |
The audit was prompted by the Jan. 5 incident when a new Boeing 737 Max 9 had its plug door panel blow off during an Alaska Airlines flight at 16,000 feet, which caused the cabin to depressurize and the flight to return safely to Portland International Airport in Oregon.
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The missing plug door panel on the Alaska Airlines Boeing 737 Max 9 involved in the Jan. 5 incident. (Photo by PATRICK T. FALLON/AFP via Getty Images / Getty Images)
The door panel appeared to be missing four key bolts, according to a preliminary report from the National Transportation Safety Board (NTSB) that was released last month.
The incident occurred after the FAA in December urged airlines to inspect Boeing 737 Max airplanes for loose bolts in the rudder control system after an airline discovered a bolt with a missing nut while performing routine maintenance.
Boeing did not immediately respond to a request for comment.
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Boeing has been blocked from expanding 737 Max production pending the resolution of investigations into quality control issues in its manufacturing processes. (Photographer: David Ryder/Bloomberg via Getty Images / Getty Images)
Reuters reported that Spirit AeroSystems has said it is “in communication with Boeing and the FAA on appropriate corrective actions.”
Spirit AeroSystems is a former subsidiary of Boeing that makes the fuselage for the 737 Max. The company last week confirmed that it is in talks with Boeing about its potential acquisition by Boeing – though it noted that there is uncertainty surrounding whether an agreement will be reached and consummated.
Reuters contributed to this report.
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As we look ahead to 2024, many homeowners and prospective buyers are wondering what to expect when it comes to mortgage rates. The landscape of the housing market is constantly changing, so it’s important to stay informed about trends and predictions. In this blog post, we will discuss some factors that could impact mortgage rates in 2024 and what homeowners and buyers can expect.
One factor that could impact mortgage rates in 2024 is the overall state of the economy. If the economy is strong and growing, we may see higher mortgage rates as the Federal Reserve looks to combat inflation. On the other hand, if the economy is stagnant or in a recession, we may see lower mortgage rates as the Fed looks to stimulate growth. It’s important to keep an eye on economic indicators such as GDP growth, unemployment rates, and inflation to get a sense of where mortgage rates may be heading.
Another factor that could impact mortgage rates in 2024 is Federal Reserve policy. The Fed plays a key role in setting interest rates, and their decisions can have a ripple effect on mortgage rates. If the Fed decides to raise interest rates in response to inflation, we may see an increase in mortgage rates. Conversely, if the Fed decides to lower interest rates to stimulate growth, we may see a decrease in mortgage rates. Keeping up with the latest news and announcements from the Fed can give homeowners and buyers a sense of where mortgage rates may be heading.
In terms of specific cities and local mortgage companies, it’s important to note that mortgage rates can vary depending on location and lender. For example, in a city like New York City, where real estate prices are high, mortgage rates may be higher compared to a city like Indianapolis, where real estate prices are lower. Additionally, local mortgage companies may offer competitive rates and terms compared to national lenders. For example, in New York City, local lenders like Quontic Bank and CrossCountry Mortgage may offer specialized products and services tailored to the needs of local buyers.
It’s important for homeowners and buyers to shop around and compare rates from multiple lenders to ensure they are getting the best deal. Websites like Bankrate and LendingTree can be helpful resources for comparing rates and terms from multiple lenders. Homeowners and buyers should also consider working with a mortgage broker who can help them navigate the lending process and find the best mortgage product for their needs.
In conclusion, predicting mortgage rates in 2024 is not an exact science, but there are several factors that could impact rates. By staying informed about economic indicators, Federal Reserve policy, and local market trends, homeowners and buyers can make informed decisions about their mortgage. Shopping around and comparing rates from multiple lenders is key to ensuring you are getting the best deal on your mortgage. Whether you’re looking to refinance your existing mortgage or buy a new home, it’s important to stay informed and be proactive in managing your mortgage.
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