You would think that Boeing’s already bad year 2024 could not get any worse. But on Monday, the 787 Dreamliner suddenly collapsed mid-flight, injuring dozens of passengers, after the pilot said he temporarily lost control of the aircraft. The pilot was able to recover and land the plane safely, but it is not yet clear what caused the LATAM flight from Australia to New Zealand to crash so dramatically. LATAM called it a ‘technical error.” Boeing said it was working to gather more information.
The company’s continuous streak of bad news began on the first weekend of the year, when part of an Alaska Airlines 737 Max flew off just after takeoff. A preliminary federal investigation has revealed that Boeing likely failed to install screws in a so-called door plug designed to prevent a part from flying off the plane. That incident resulted in the temporary grounding of certain 737 Mak planes across the country, followed by congressional hearings, production and delivery delays, multiple federal investigations, including a criminal investigation. Between the lawsuits, potential fines and lost business, Boeing could lose billions of dollars more.
Aviation Titan Boeing Faces Mounting Challenges Amidst Ongoing Airplane Mishaps
Boeing, the renowned aviation giant, finds itself ensnared in a web of troubles as airplane accidents continue to plague its operations. Just when it seemed Boeing’s tumultuous year of 2024 couldn’t descend further into turmoil, a startling incident unfolded on Monday. The 787 Dreamliner experienced a mid-flight collapse, causing injuries to numerous passengers, after the pilot reported a temporary loss of control. Despite the pilot’s skill in safely landing the aircraft, the precise cause of the dramatic crash of the LATAM flight from Australia to New Zealand remains shrouded in mystery. LATAM attributed the incident to a ‘technical error,’ while Boeing has committed to gathering further information.
This unsettling streak of unfortunate events commenced at the onset of the year, with a disconcerting incident involving an Alaska Airlines 737 Max. During takeoff, a segment of the aircraft detached, prompting a federal inquiry that uncovered Boeing’s likely oversight in installing screws essential for securing a door plug. The aftermath led to the temporary grounding of specific 737 Max planes, congressional scrutiny, production setbacks, and a flurry of federal investigations, including criminal probes. Amidst impending lawsuits, potential penalties, and disrupted business operations, Boeing faces the looming specter of billion-dollar losses.
However, the string of misfortunes didn’t cease there. In February, pilots of a United Airlines 737 Max encountered malfunctioning flight controls upon landing in Newark, prompting an investigation by the National Highway Traffic Safety Administration. More recently, the Federal Aviation Administration flagged safety concerns regarding deicing equipment on both 737 Max and 787 Dreamliners, citing potential engine thrust loss. Despite allowing these planes to continue flying, the FAA’s scrutiny underscores Boeing’s persistent safety challenges.
Adding to Boeing’s woes, a recent report from the National Transportation Safety Board (NTSB) revealed the company’s failure to furnish crucial documentation regarding the replacement of door stoppers on the Alaska Airlines plane. Boeing’s assertion that these records are nonexistent further compounds regulatory concerns. FAA Administrator Mike Whitaker underscored broader production and assembly line deficiencies, emphasizing the significance of addressing operational shortcomings beyond mere paperwork discrepancies.
Boeing has pledged to address these issues, with the FAA mandating a comprehensive action plan by the end of May. Amidst these challenges, Boeing’s shares plummeted by 3% following the LATAM flight incident and dipped another 4.5% the subsequent day, ranking among the S&P 500’s poorest performers. Beyond financial ramifications, Boeing grapples with the arduous task of rebuilding trust among airlines, regulators, and passengers. With each successive mishap and unfavorable headline, the road to redemption grows increasingly fraught for the aviation giant.