Why Are Boeing Shares Trading Lower Today?

Boeing Inc. (NYSE:BA) shares are trading lower after its striking machinists rejected a labor offer, raising concerns over possible operational disruptions and prolonged negotiations.

What To Know: Adding to Boeing’s challenges, the U.S. National Transportation Safety Board (NTSB) issued urgent safety recommendations regarding the rudder control system on Boeing 737 airplanes, according to Reuters.

According to the NTSB, over 40 foreign operators may be using the Boeing 737 aircraft with rudder control components that could pose safety risks. This follows a February incident involving a United Airlines flight and the NTSB also revealed that two foreign operators had experienced similar issues in 2019.

National Transportation Safety Board Chair Jennifer Homendy expressed concern that many airlines may be unaware of the presence of these potentially problematic actuators on their aircraft, prompting the safety board to call for immediate attention from the Federal Aviation Administration (FAA) and affected operators.

BA Price Action: Boeing stock closed down 2.70% at $152.04 according to Benzinga Pro.

See Also:

• Elon Musk Bought X For $44B, Now Fidelity Values Social Media Network Below $10B

Photo: Courtesy Boeing