Shares of Boeing Co. dropped Monday, after the Federal Aviation Administration recommended more aircraft models of the aerospace giant should have their door plugs inspected.
“As an added layer of safety, the Federal Aviation Administration (FAA) is recommending that operators of Boeing 737-900ER aircraft visually inspect mid-exit door plugs to ensure the door is properly secured,” the FAA said on its website.
The 737-900ER is not part of the new Max fleet, which had the door-plug issues that led to the 737 Max 9’s groundings, but has the same door plug design, the FAA said.
The stock
BA,
slumped 1.8% in premarket trading. That puts it on track to snap a three-day bounce off a two-month closing low on Jan. 16.
Also read: Boeing’s stock should be in the penalty box for now, investment manager says.
The stock has bounced 7.2% over the past three days to Friday, but has still tumbled 13.6% since the in-flight blowout of a panel on Jan. 5 due to the loss of a mid-cabin door plug led to groundings of the 737 Max 9 aircraft.
On Jan. 11, the FAA launched a formal investigation into whether Boeing failed to complete required safety tests. On Jan. 17, the investigation was expanded to include Boeing’s manufacturing practices, including those involving subcontractor Spirit AeroSystems Holdings Inc.
SPR,
Boeing’s stock has climbed 19.4% over the past three months through Friday, while shares of Spirit AeroSystems have rallied 27.2% and the Dow Jones Industrial Average
DJIA
has advanced 14.3%.
