Shares of
Boeing
traded lower Thursday after the Federal Aviation Administration said it was monitoring “targeted inspections of 737 MAX airplanes to look for a possible loose bolt in the rudder control system.”
The stock fell 1.1% to $259.13 on Thursday.
The airplane maker recommended the inspections after an international operator found a bolt with a missing nut while performing routine maintenance in the rudder-control linkage and the company found an additional undelivered aircraft with a nut that wasn’t properly tightened, the FAA said.
“The issue identified on the particular airplane has been remedied,” a
Boeing
spokesperson told Barron’s. “Out of an abundance of caution, we are recommending operators inspect their 737 MAX airplanes and inform us of any findings. We informed the FAA and our customers and will continue to keep them aware of the progress.”
Inspections are estimated to take about two hours per airplane, and all airplanes being delivered will have the inspection completed before delivery, the spokesperson said.
The FAA said it will consider additional action if further loose or missing hardware is discovered.
The 737 MAX jet was grounded for 20 months following two deadly crashes in 2018 and 2019.
Write to Emily Dattilo at [email protected]
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