Boeing (BA) - Get Free Report shares dropped Monday after the airplane manufacturer found itself in the headlines for all the wrong reasons once again after one of its planes was forced to make an emergency landing shortly after takeoff after a piece of its fuselage came off mid-flight.
While the video of the incident is shocking, at least one industry watcher says that he was the least bit shocked that the company is still having quality control issues with its planes.
Related: Boeing urges all airlines to inspect 737 MAX jets
"This was no surprise, unfortunately. I know it is stunning for passengers, but for those of us who have been monitoring what's been going on for a while with the Max it really wasn't a surprise," said Ed Pierson, a former senior manager for the Boeing 737 program who testified against Boeing at a Congressional hearing after two Boeing 737 MAX planes crashed within months of each other in late 2018 and early 2019.
"The company has struggled mightily with manufacturing and we've had over 20 production quality defects. It's hard to keep up with all of them."
The 737 Max 9 grounding comes just as Boeing CEO Dave Calhoun looks to revive the aerospace giant's reputation and capitalize on a historic surge in aircraft demand from carriers around the world.
Boeing is also hoping to win permission to resume deliveries of its 737 Max aircraft to China, the world's biggest aircraft market, following its suspension of service in 2019 linked to fatal crashes in...
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