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Boeing issues damaging industry, Airbus says

Published 19/03/2024, 11:49
Boeing issues damaging industry, Airbus says

Proactive Investors - Quality control concerns around Boeing Co (NYSE:BA) risk damaging the entire aerospace sector, rather than benefiting rivals, Airbus Group (EPA:EPA:AIR)’s chief executive has warned.

Boeing has faced scrutiny since a door panel fell off one of its jets mid-flight in early January, with other concerns over quality issues of its aircraft having been raised since.

However, while Airbus has emerged as a beneficiary in terms of its share price, which is up over 17% for the year so far, boss Guillaume Faury said such questions around safety affected the entire industry.

“I am not happy with the problems of my competitor,” he told Berlin’s Europe 2024 conference when quizzed over the technical issues at Airbus’ main competitor.

“They are not good for the industry a whole,” he continued. “We are in an industry where quality and safety is top priority.”

The January incident had seen a door plug, used when an emergency exit is not needed, fall off an Alaska Airlines 737 Max 9 jet, prompting a period of groundings globally.

Boeing has since faced intense scrutiny from regulators and airlines alike, with other incidents relating to its aircraft having been widely reported on.

Boeing had told airlines earlier this month to check flight deck switches following a mid-air dive by an LATAM Airlines-operated 787 Dreamliner, for instance.

Shares in the US-based manufacturer have fallen almost 30% so far this year, meanwhile.

Read more on Proactive Investors UK


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