Why this Boeing investor says now is a good time to get into the name

About This Source - CNBC Television

CNBC is an American pay television business news channel, which primarily carries business day coverage of U.S. and international financial markets. Following the end of the business day and on non-trading days, CNBC primarily carries financial and business-themed documentaries and reality shows.

As of February 2015, CNBC is available to approximately 93,623,000 pay television households (80.4% of households with television) in the United States.

Recent from CNBC Television:

  • Match Group CFO and COO Gary Swidler on recent acquisition, dating post-pandemic
  • Tusk Ventures CEO Bradley Tusk on tech comeback, bitcoin
  • President Biden signs Juneteenth National Independence Day Act
  • CNBC Television published this video item, entitled “Why this Boeing investor says now is a good time to get into the name” – below is their description.

    CNBC’s “Halftime Report” team discusses Boeing’s stock as the company says some new 737 Max jets have potential electrical issues. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi

    U.S. airlines temporarily grounded more than 60 Boeing 737 MAX jets on Friday after the U.S. planemaker asked 16 carriers who operate the jet to address an electrical power system issue in the aircraft.

    The U.S. Federal Aviation Administration (FAA) said Boeing had notified the agency late Thursday of its recommendation to temporarily remove some planes from service to address a manufacturing issue that could affect the operation of a backup power control unit.

    The FAA added it is in contact with the airlines and the manufacturer, and will ensure the issue is addressed.

    The 737 MAX returned to service in November after a 20-month safety ban triggered by two fatal crashes that killed 346 people. The plane has continued to face careful scrutiny since it resumed flights.

    Southwest Airlines removed 30 MAX airplanes from its schedule Friday, while American Airlines removed 17 of its 41 MAX airplanes and United Airlines removed 16 of its 30 MAX airplanes.

    Boeing said in a statement that it wants 16 MAX operators to check and verify that “a sufficient ground path exists for a component of the electrical power system”.

    American Airlines Chief Operating Officer David Seymour said in a memo to employees seen by Reuters that Boeing “has traced the issue to a production change made in the installation process that occurred after our last aircraft was delivered before the fleet grounding in March 2019.”

    Airlines said they did not have an immediate timetable for when the planes could return to service. American said the issue impacts 17 of its most recently delivered airplanes.

    A Boeing spokeswoman said the issue was not related to a key safety system tied to both fatal crashes called MCAS, which had led to the wider safety grounding.

    “We are also informing our customers of specific tail numbers affected, and we will provide direction on appropriate corrective actions,” Boeing said in a statement.

    Southwest Airlines said 30 of its 58 737 MAX 8 aircraft were affected by Boeing’s notification, but that it is currently only flying up to 15 MAX airplanes per day.

    Teal Group analyst Richard Aboulafia said it was not clear how big an impact the issue will have.

    “If it’s a glitch that’s either just a false alarm or something easily checked in a day or so, it will be forgotten quickly,” he said in an email.

    “But since it’s just a batch of planes, and not all MAXs, it’s probably not related to the design.”

    » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision

    » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC

    » Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic

    Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.

    The News with Shepard Smith is CNBC’s daily news podcast providing deep, non-partisan coverage and perspective on the day’s most important stories. Available to listen by 8:30pm ET / 5:30pm PT daily beginning September 30: https://www.cnbc.com/2020/09/29/the-news-with-shepard-smith-podcast.html?__source=youtube%7Cshepsmith%7Cpodcast

    Connect with CNBC News Online

    Get the latest news: http://www.cnbc.com/

    Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC

    Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC

    Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC

    Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC

    https://www.cnbc.com/select/best-credit-cards/

    #CNBC

    #CNBCTV

    CNBC Television YouTube Channel

    Got a comment? Leave your thoughts in the comments section, below. Please note comments are moderated before publication.

    In This Story: Boeing

    The Boeing Company (LON: BOE) is an American multinational corporation that designs, manufactures, and sells airplanes, rotorcraft, rockets, satellites, telecommunications equipment, and missiles worldwide. The company also provides leasing and product support services.

    3 Recent Items: Boeing

  • Biden seeks to ease trade tensions, rally support at EU talks ahead of Putin meeting
  • ‘New chapter’: US, EU strike Airbus-Boeing deal, turn to China ‘challenges’
  • U.S. Pushing China to Get Boeing 737 Max Planes Back in Air
  • Leave a Comment