Boeing shares drop as it says more work needed on 787s, delaying 2021 deliveries
The Boeing Co. shares BA, -0.54% slid 2% in premarket trade Tuesday, after the aerospace giant said it has identified additional rework that is required on its undelivered 787s, delaying their delivery through the rest of 2021. The company had previously disclosed talks with the FAA on the verification methodology for 787 fuselages and was carrying out inspections.
"Based on our assessment of the time required to complete this work, Boeing is reprioritizing production resources for a few weeks to support the inspection and rework," the company said in a statement."As that work is performed, the 787 production rate will temporarily be lower than five per month and will gradually return to that rate." The company is expecting to deliver fewer than half its 787s currently in inventory this year.
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