{"id":52746,"date":"2023-08-25T01:34:30","date_gmt":"2023-08-25T05:34:30","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/boeing-shares-fall-as-737-goal-at-risk-from-supplier-defect-involving-spirit\/"},"modified":"2023-08-25T01:34:32","modified_gmt":"2023-08-25T05:34:32","slug":"boeing-shares-fall-as-737-goal-at-risk-from-supplier-defect-involving-spirit","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=52746","title":{"rendered":"Boeing shares fall as 737 goal at risk from supplier defect involving Spirit"},"content":{"rendered":"
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\u00a9 Reuters. FILE PHOTO: Boeing 777X and Boeing 737 MAX 10 airplanes are seen parked in an aerial view at King County International Airport-Boeing Field in Seattle, Washington, U.S, June 1, 2022. REUTERS\/Lindsey Wasson\/File Photo<\/span>
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By Abhijith Ganapavaram<\/p>\n

(Reuters) -Boeing shares fell 4% in early trading on Thursday after the U.S. planemaker warned of delays in near-term deliveries of 737 MAX jets due to a fresh quality issue involving its biggest supplier Spirit AeroSystems (NYSE:).<\/p>\n

This could put pressure on the top end of Boeing (NYSE:)’s annual 737 delivery target of 450 planes, some Wall Street analysts warned even as the planemaker said it was evaluating that goal.<\/p>\n

It is for the second year that Boeing’s delivery targets are under review, after supply-chain issues forced it to temper its goal last year. The latest quality issue is due to improperly shaped holes in the aft pressure bulkhead of some planes.<\/p>\n

The bulkhead is a structure that seals off the rear of the pressurized cabin. The parts in question were made by Spirit, whose shares hit an over two-and-a-half year low of $20.09.<\/p>\n

But not all 737 fuselages will be impacted as Spirit uses multiple suppliers for the aft pressure bulkhead. <\/p>\n

Boeing believes the defect is limited to a portion of its bestselling MAX 8 model, but was evaluating if older-model 737 Next Generation jets have also been impacted.<\/p>\n

“It is early days on both the near and long-term financial impacts of the issue, but it appears the fix is likely to take several weeks for completed aircraft,” Citi analyst Jason Gursky said in a note.<\/p>\n

The planemaker’s ratio of enterprise value to sales for the next 12 months is 2, compared to 1.3 for rival Airbus, as per Refinitiv data. A low ratio implies a more attractive investment opportunity.<\/p>\n

The defect also adds more pressure on Spirit after it took a financial hit from a another quality issue and reported bleak results due to a worker strike earlier this year. <\/p>\n

Boeing’s shares were trading at $219.50 compared with Wall Street’s median price target of $254.70. It was $238.50 three months ago.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. FILE PHOTO: Boeing 777X and Boeing 737 MAX 10 airplanes are seen parked in an aerial view at King County International Airport-Boeing Field in Seattle, Washington, U.S, June 1, 2022. REUTERS\/Lindsey Wasson\/File Photo By Abhijith Ganapavaram (Reuters) -Boeing shares fell 4% in early trading on Thursday after the U.S. planemaker warned of delays […]<\/p>\n","protected":false},"author":1,"featured_media":52747,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-52746","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nBoeing shares fall as 737 goal at risk from supplier defect involving Spirit | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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