KEY TAKEAWAYS
- Boeing has found cracks in the structure of its 777X jetliner in initial test flights, another mishap for the carrier this year.
- The company is grounding its 777X test fleet after an inspection showed the failure of a key engine mounting structure.
- Boeing shares are down more than 30% this year as the airplane maker grapples with a series of setbacks since a door plug detached during an Alaska Airlines flight in January.
Boeing (BA) has found cracks in the structure of its 777X jetliner in initial test flights, another mishap for the carrier this year.
The plane maker said it is grounding its 777X test fleet after an inspection showed the failure of a key engine mounting structure.
“During scheduled maintenance, we identified a component that did not perform as designed,” a Boeing spokesperson said in a statement provided to Investopedia. “Our team is replacing the part and capturing any learnings from the component and will resume flight testing when ready.”
Boeing Shares Down 30% This Year
The news of the cracks in the jet was first reported by trade publication The Air Current.
Boeing shares, which are falling 1.5% in premarket trading, are down more than 30% this year as the airplane maker grapples with a series of setbacks since a door plug detached during an Alaska Airlines (ALK) flight in January, leading the Federal Aviation Administration (FAA) to ground expansion plans for its best-selling 737 MAX.