By The Financial District
Boeing Shares Flat As 787 Deliveries Are Halted
Shares of Boeing Co. fell 3.2% in premarket trading on Friday after the US planemaker temporarily halted deliveries of its 787 Dreamliner jets over a documentation issue related to a fuselage component, Reuters reported.
Photo Insert: An analysis error by Boeing's supplier related to the 787 forward pressure bulkhead led to a pause in deliveries months after they were allowed to resume in August.
Boeing, while reviewing certification records, said it "discovered an analysis error by our supplier related to the 787 forward pressure bulkhead," leading to a pause in deliveries months after they were allowed to resume in August.
The component acts as a barrier between the pressurized interior cabin and the radome (or nose cone). It was supplied by Spirit AeroSystems, which said it was too early to assert it made the "analysis error."
Shares of Spirit were down 2.6% before the bell.
Some analysts said the latest hiccup in 787 deliveries should not result in any design changes and jets in service should continue to fly.
"An unwelcome blast from the past, but hopefully a brief one," J.P. Morgan analyst Seth Seifman said in a note. Deliveries of 787 are the main drivers of the $1.7 billion of year-on-year cash flow growth Boeing projects, Seifman said.Words
WEEKLY FEATURE : MVP Group Keeps Lights On During Pandemic