2023-04-16 14:40:38
US aircraft maker Boeing was rocked on the New York Stock Exchange on Friday following reports of further disruptions in deliveries of its flagship medium-haul 737 MAX jet, caused by quality issues on parts supplied by Spirit Aerosystems . Boeing’s stock ended down 5.6% while that of its supplier plunged 20.8%. Some airlines relying heavily on the 737 MAX to deliver their flights were swept up in the turbulence, with Southwest down 1.7% and American Airlines down 1.2%. Boeing said late Thursday that Spirit Aerosystems used a “non-standard manufacturing process” in installing fittings in the fuselage of certain 737-7, 737-8, 737-8-200 and P-8 aircraft models. . This problem does not pose an immediate risk and the planes in service can continue to fly, assures Boeing. But as some airlines lament not having enough aircraft to meet demand for plane tickets, deliveries of a “significant” number of 737 MAXs in production or still in inventory will drop in short order. term, time to conduct inspections and, if necessary, make changes, Boeing said. The company, which has set itself the goal of delivering between 400 and 450 MAX in 2023, did not specify exactly how many devices might be affected or how long it might take to resolve the situation. Production as such should not be affected too much as the problem has been identified and it should be easy to solve it on the assembly line, believes Michel Merluzeau, specialist in the aeronautics sector for the firm. AIR. The problem is rather at the level of the deliveries of the devices already finished, according to him. As “several suppliers have intervened on the planes, it is necessary to identify which devices are concerned and then choose how to solve the problem”, he explains to AFP. For the planes in service, “it is to be hoped that there will be no immobilization because that can have toxic consequences on the flight programs this summer”, he remarks, believing that the problem can be solved during maintenance operations. In any case, this announcement represents a new setback for Boeing, which is trying to get back on its feet following several complicated years. The aircraft manufacturer had to deal in quick succession with the two fatal accidents of the 737 MAX in 2018 and 2019, which led to the aircraft being grounded worldwide for 20 months, the pandemic and its impact on the air traffic and supply chains, as well as manufacturing issues discovered on the 787 in the summer of 2020 that hampered long-haul deliveries for many months. The group managed in 2022 to generate positive free cash flow over the whole year for the first time since 2018, a key indicator in its recovery. But if the deliveries of the MAX are seriously disrupted, the cash inflows will decrease insofar as the companies pay the bulk of their order when they receive the planes. “History does not change fundamentally”, remarks Nicolas Owens, of the firm Morningstar. “The planes will be delivered and Boeing will reduce its stocks. But that adds delays,” he analyzes in a note. For Michel Merluzeau, this complication at a time when the manufacturer finally seemed to be getting back on track in terms of production and delivery is a shame. “When we think that the problems are solved, others reappear,” he observes.
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