Boeing faces another setback

Article Excerpt

BOEING CO. $207 remains a hold. The aircraft maker (New York symbol BA; Conservative Growth Portfolio, Manufacturing sector; Shares o/s: 586.2 million; Market cap: $121.3 billion; Price-to-sales ratio: 2.0; Dividend suspended in June 2020; TSINetwork Rating: Extra Risk; www.boeing.com) delivered 85 commercial jet planes in the third quarter of 2021 compared to just 28 in the year-earlier quarter. That increase is mainly because the company has resumed deliveries of its 737 Max jetliners after it fixed a problem with the autopilot software that probably contributed to the crashes in Ethiopia and Indonesia in 2019. That prompted regulators in the U.S. and other countries to ground the plane for 20 months. However, Boeing has had to suspend deliveries of its 787 Dreamliner plane after it discovered that some titanium parts are not as strong as they should be. It seems the problem is related to parts supplied by an Italian aerospace company. Boeing hopes to resume 787 deliveries in November. Boeing is still a hold. hold…