Shares of Boeing Co. dropped around 1% on Thursday after the aerospace and defense company urged airlines and other operators to check for possible loose bolts on its 737 Max jets.
The fresh issue with the family of single-aisle jets may affect the planes’ rudder-control system, the Federal Aviation Administration said Thursday. The FAA is “closely monitoring” the inspections in conjunction with Boeing
BA,
it said.
Boeing has warned operators to inspect “specific tie rods that control rudder movement for possible loose hardware,” the FAA said.
Boeing said that the problem identified on a particular airplane “has been remedied” but recommended the inspections “out of an abundance of caution.”
“We informed the FAA and our customers and will continue to keep them aware of the progress,” a Boeing spokesperson said.
The inspections are not difficult to conduct and take about two hours per plane, the company said.
The FAA said it will “remain in contact with Boeing and the airlines while the inspections are underway” and will “consider additional action based on any further discovery of loose or missing hardware.”
Boeing recommended the inspections after an international operator discovered a bolt with a missing nut while performing routine maintenance on a mechanism in the rudder-control linkage, the FAA said.
The company also discovered an additional undelivered aircraft with a nut that was not properly tightened, it said.
The 737 Max jets were grounded worldwide after two deadly crashes in 2018 and 2019, and it took nearly two years before the FAA approved changes to the design and allowed the plane to fly again.
The aircraft has been beset by problems in recent years, including quality-control issues attributed to a supplier. The issues that have been uncovered did not present immediate flight-safety concerns.
Shares of Boeing have gained 36% this year, while the S&P 500 index
SPX
has advanced by around 25%.
