Boeing accused of taking shortcuts to increase production speed, potentially leaving defects structural on the 787 and 777. Heavy accusations penalize the Boeing stock on Wall Street, where it ends up losing over 1.40%.
Boeing has pledged to cooperate with Congress and provide documents necessary for thorough review. The accusations are a new heavy blow for Boeing, recently involved in a new series of accidents with the 737 Max which have rekindled fears about the safety of its aircraft.. In an effort to move on, Boeing CEO Dave Calhoun last month announced his exit at the end of 2024. Also saying goodbye are Boeing's head of commercial aircraft, Stan Deal, and chairman of the board, Larry Kellner. The new CEO will fall to the new CEO, which has not yet been identified, according to the company's council of directors and executives of the Boeing 737 and Boeing 737-MAX families. The company has not commented on the accusations, but has expressed full confidence in the safety and durability of the 777s.