Boeing share price: Plagued by fresh troubles — ranging from technical snags to bomb threat reports — a few days after the Ahmedabad plane crash, shares of Boeing Company looked set to decline for the fifth day in a row.
Boeing share price was trading flat with a negative bias in pre-open trade on Monday, June 16, at $200.2 apiece, down 0.06%. The aircraft manufacturer has also seen its stock slide by over 8% in the last four days.
The stock’s biggest fall in the last four sessions of 4.8% came on Thursday after the Boeing 787 Dreamliner aircraft, travelling from London to Ahmedabad, crashed into a complex of B J Medical College in the Meghaninagar area shortly after taking off, resulting in the death of 265 people.
From tech snags to bomb threats: Boeing’s growing troubles
In signs of fresh troubles, an Air India plane, using the same type of Boeing aircraft, bound for New Delhi returned to its origin of Hong Kong as a precautionary measure on Monday after a technical issue was suspected mid-air, the latest incident affecting the airline in recent days.
In a separate incident, a Lufthansa flight to Hyderabad was forced to make a U-turn and return to land at Frankfurt Airport due to a bomb threat.
The Boeing 787-9 Dreamliner’s return mid-air came as a Chennai-bound British Airways Flight BA35, also a Dreamliner, returned to London Heathrow Airport on Sunday over a “technical issue”.
“The aircraft returned to Heathrow as a standard precaution after reports of a technical issue,” British Airways said in a statement.
Boeing guidance
Recently, Boeing also pared down its 20-year forecast for passenger traffic growth from 4.7% in last year’s outlook to 4.2% this year. Likewise, it lowered its global economic growth forecast from 2.6% to 2.3%, cargo traffic growth from 4.1% to 3.7% and fleet growth from 3.2% to 3.1%, according to a Reuters report.
Despite the lower projection for cargo traffic, Boeing Vice President of Commercial Marketing Darren Hulst told reporters in a briefing that trade volatility is not expected to significantly shift long-term demand.
(With inputs from agencies)
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