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Boeing CDR (CAD Hedged)
Symbol BA
Shares Issued 550,000
Close 2024-06-14 C$ 30.96
Market Cap C$ 17,028,000
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Globe/AP say Boeing tells FAA about dodgy titanium

2024-06-17 08:11 ET - In the News

The Globe and Mail reports in its Saturday edition that U.S. federal regulators are investigating how parts made with titanium that were sold with falsified quality documentation wound up in Boeing and Airbus passenger jets that were built in recent years. An Associated Press dispatch to The Globe says that Boeing and Airbus said Friday that planes containing the parts are safe to fly, but Boeing said it was removing affected parts from planes that have not been delivered yet to customers. It will be up to regulators including the Federal Aviation Administration to decide whether any work needs to be done to planes that are already carrying passengers. The FAA said Boeing reported the problem covering material from a distributor "who may have falsified or provided incorrect records." The FAA did not name the distributor. Spirit AeroSystems, which makes fuselages for Boeing planes and wings for Airbus jets, reported the falsified documents. Boeing and Airbus declined to say how many planes were flying with parts made from the undocumented titanium. Titanium alloys have been used for decades in aircraft production because of their light weight, strength and resistance to corrosion and high temperatures.

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