Boeing Co's Dreamliner 787 has come under fire after a second mishap in two days at Boston Logan Airport, resulting in a drop of its shares. It was reported that Japan Airlines (JAL)-operated 787, bound for Tokyo, cancelled takeoff after a fuel leak Tuesday. This follows a fire eruption on the same airline Monday in Boston.
The shares of the carrier dropped by 0.4 percent to 3, 765 yen at the close of Tokyo trading, a biggest decline since Dec. 28 states data compiled by Bloomberg. Following a two percent dip Monday, the Boeing shares fell 2.7 percent on the New York Stock Exchange.
Reuters reported that Japan is by far the biggest customer for the Dreamliner, which entered commercial service in Nov. 2011, with JAL and All Nippon Airways operating a total of 24 of the 49 new planes delivered at the end of December.
According the Reuters reports, many Wall Street analysts rated Boeing stock a "buy" or "outperform" as the manufacturer delivered jets faster than the market predicted. But its present woes are bound to affect public perception of Boeing and the new aircrafts feel experts.
"We're getting to a tipping point where they go from needing to rectify problems to doing major damage control to the image of the company and the plane," Richard Aboulafia, a defense and aerospace analyst with Teal Group, a consulting firm based in Fairfax, Virginia told Reuters. "While they delivered a large and unexpected number of 787s last year, it's possible that they should have instead focused on identifying glitches and flaws, rather than pushing ahead with volume production."
A statement released by Boeing said nothing they have seen in this case indicates a relationship to any previous 787 power system events, which involved power panel faults elsewhere in the aft electrical equipment bay. Information about the prior events has been shared with the National Transportation safety Board and they are aware of the details, the statement mentioned.
Join the Conversation