Aircraft manufacturer Boeing is now contending with a lawsuit from shareholders alleging that the company prioritised profits over safety and provided misleading information about its commitment to ensuring the safety of its aircraft.

<o:p>This is based on a Reuters report.</o:p>

The legal action follows a mid-air cabin panel blowout incident on an Alaska Airlines 737 MAX 9 that occurred on January 5. Shareholders claim that Boeing, despite the crashes of two MAX planes in 2018 and 2019 that resulted in 346 fatalities, assured investors of its unwavering focus on safety. <o:p></o:p>

The lawsuit contends that Boeing's statements concealed poor quality control on its assembly line, ultimately leading to an inflated stock price.<o:p></o:p>

Boeing's share price experienced a notable decline of 18.9 per cent from January 5 to January 25, 2024, the day after the Federal Aviation Commission (FAA) restricted Boeing from expanding MAX production due to safety concerns. This decline erased more than $28 billion of market value. <o:p></o:p>

The lawsuit, filed in the federal court in Alexandria, Virginia, covers shareholders from October 23, 2019, to January 24, 2024, and is led by Rhode Island General Treasurer James Diossa. Defendants include Boeing's Chief Executive Dave Calhoun, his predecessor Dennis Muilenburg, and Chief Financial Officer Brian West, along with his predecessor Gregory Smith.<o:p></o:p>

James Diossa, the lead plaintiff, highlighted the lawsuit's potential to drive changes in Boeing's practices, emphasising the importance of safeguarding passengers and ensuring their safety in the future. 

The legal action draws attention to the incident on January 5, which prompted the FAA to temporarily ground 171 MAX 9 planes, resulting in numerous flight cancellations for Alaska Air Group and United Airlines. While there were no fatalities in the Alaska Airlines incident, some passengers have initiated lawsuits against Boeing and the carrier.<o:p></o:p>

Boeing, in response to the legal proceedings, has refrained from commenting. The company recently faced uncertainty over its planes, leading to an inability to provide full-year financial targets. <o:p></o:p>

Despite this uncertainty, Boeing reported better-than-expected fourth-quarter results, including a $30 million loss, $22 billion of revenue, and $3.38 billion of cash flow.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

Aircraft manufacturer Boeing is now contending with a lawsuit from shareholders alleging that the company prioritised profits over safety and provided misleading information about its commitment to ensuring the safety of its aircraft.

Aircraft manufacturer Boeing is now contending with a lawsuit from shareholders alleging that the company prioritised profits over safety and provided misleading information about its commitment to ensuring the safety of its aircraft. This is based on a Reuters report. The legal action follows a mid-air cabin panel blowout incident on an Alaska Airlines 737 MAX 9 that occurred on January 5. Shareholders claim that Boeing, despite the crashes of two MAX planes in 2018 and 2019 that resulted in 346 fatalities, assured investors of its unwavering focus on safety. The lawsuit contends that Boeing's statements concealed poor quality control on its assembly line, ultimately leading to an inflated stock price. Boeing's share price experienced a notable decline of 18.9 per cent from January 5 to January 25, 2024, the day after the Federal Aviation Commission (FAA) restricted Boeing from expanding MAX production due to safety concerns. This decline erased more than $28 billion of market value. The lawsuit, filed in the federal court in Alexandria, Virginia, covers shareholders from October 23, 2019, to January 24, 2024, and is led by Rhode Island General Treasurer James Diossa. Defendants include Boeing's Chief Executive Dave Calhoun, his predecessor Dennis Muilenburg, and Chief Financial Officer Brian West, along with his predecessor Gregory Smith. James Diossa, the lead plaintiff, highlighted the lawsuit's potential to drive changes in Boeing's practices, emphasising the importance of safeguarding passengers and ensuring their safety in the future. The legal action draws attention to the incident on January 5, which prompted the FAA to temporarily ground 171 MAX 9 planes, resulting in numerous flight cancellations for Alaska Air Group and United Airlines. While there were no fatalities in the Alaska Airlines incident, some passengers have initiated lawsuits against Boeing and the carrier. Boeing, in response to the legal proceedings, has refrained from commenting. The company recently faced uncertainty over its planes, leading to an inability to provide full-year financial targets. Despite this uncertainty, Boeing reported better-than-expected fourth-quarter results, including a $30 million loss, $22 billion of revenue, and $3.38 billion of cash flow. (With inputs from Reuters)

Boeing faces shareholder lawsuit over safety concerns following MAX 9 incident

The aviation industry has already witnessed two major incidents at the start of 2024. While a Japan Airlines flight crashed into a Japanese Coast Guard aircraft, a Boeing 737 Max 9 flight of Alaska Airlines had its door blown off, prompting the airline to ground it for checks.

The aviation industry has already witnessed two major incidents at the start of 2024. While a Japan Airlines flight crashed into a Japanese Coast Guard aircraft, a Boeing 737 Max 9 flight of Alaska Airlines had its door blown off, prompting the airline to ground it for checks. The Federal Aviation Administration (FAA) has also issued emergency directives for the aircraft. Here's everything you need to know about the Indian airlines that operate the Boeing 737 Max. Which airlines in India operate the Boeing 737 Max? Akasa Air, SpiceJet, and Air India Express are the three airlines which operate the Max type. However, the FAA mandate does not affect Indian airlines as they do not use Max 9. All 40 registered aircraft in India are Max 8, with Akasa Air flying a sole Max 8200, the Hindustan Times reported. Akasa Air has 22 Max-type aircraft, the most in the country. These are the only planes with the airline, implying that they function their entire network by flying the Boeing 737 Max 8 type. They currently fly to 16 destinations and are planning to add foreign destinations soon. ALSO READ | India summons Maldives high commissioner over derogatory remarks against PM Modi SpiceJet and Air India Express have nine MAX-type aircraft each. Air Indian Express uses MAX 8 for its newly launched flight from Bengaluru to Kannur, Trivandrum, Mangalore, and Varanasi. The airline also operates flights from Hyderabad to Amritsar and Lucknow using the MAX 8. However, since it has several other options like B737NG, A320neo, and A320ceo, the routes for Max 8 are subject to changes. Meanwhile, SpiceJet generally deploys these planes on international routes, like Dubai, Bangkok, and Jeddah. However, according to Flightradar24, the airline has used the Max type for domestic routes. These include flights to Mumbai, Chennai, Delhi, Pune, Darbhanga, Patna, Srinagar, Jammu, Kolkata, and Port Blair. After the Alaska incident, India's Directorate General of Civil Aviation (DGCA) ordered all Indian operators with the 737 Max 8 aircraft to check their functioning, especially the proper closing of all over-wing emergency exits. The DGCA ordered these checks as a precautionary measure. The authorities examined four 737 MAX 8 aircraft operated by Air India Express, eight by SpiceJet and 20 by Akasa Air. The Indian regulator said there were no adverse findings, and the aircraft's performance was satisfactory. In 2019, the DGCA banned the Boeing 737 MAX 8 in India after the Ethiopian Airlines crash. However, they returned to India in 2021. (With inputs from agencies)

Alaska Incident: Which Indian airlines fly the Boeing 737 MAX?

India's SpiceJet Ltd said on Thursday it has agreed to a settlement with Boeing Co's MAX aircraft lessor Avolon, paving the way for the 737 MAX jets to return to service.

The airline said it expects to start operations of MAX aircraft around the end of September, subject to regulatory approvals.

India's air safety regulator Directorate General of Civil Aviation did not immediately respond to a request for comment. SpiceJet did not provide any further details on the settlement.

"As India emerges from COVID-19 and air traffic picks up again, the MAX aircraft will play a major role in our future expansion," Ajay Singh, SpiceJet's chairman and managing director said.

About 30 airlines and 175 countries have allowed the 737 MAX to return to service following a nearly two-year safety ban.

The ban followed two crashes five months apart which killed 346 people, plunging Boeing into a financial crisis since compounded by the pandemic.

India's SpiceJet Ltd said on Thursday it has agreed to a settlement with Boeing Co's MAX aircraft lessor Avolon, paving the way for the 737 MAX jets to return to service.

India's SpiceJet Ltd said on Thursday it has agreed to a settlement with Boeing Co's MAX aircraft lessor Avolon, paving the way for the 737 MAX jets to return to service. The airline said it expects to start operations of MAX aircraft around the end of September, subject to regulatory approvals. India's air safety regulator Directorate General of Civil Aviation did not immediately respond to a request for comment. SpiceJet did not provide any further details on the settlement. "As India emerges from COVID-19 and air traffic picks up again, the MAX aircraft will play a major role in our future expansion," Ajay Singh, SpiceJet's chairman and managing director said. About 30 airlines and 175 countries have allowed the 737 MAX to return to service following a nearly two-year safety ban. The ban followed two crashes five months apart which killed 346 people, plunging Boeing into a financial crisis since compounded by the pandemic.

India's SpiceJet settles with Boeing MAX aircraft lessor Avolon

Watch today in World Business Watch: Boeing planning to bring back 737 max jets for passenger service.

World Business Watch: Boeing's plan to bring back 737 max jets for passenger service

Boeing announced on Wednesday it would give $100 million to communities and families affected by <a href="https://www.wionews.com/world/us-regulator-cites-new-flaw-on-grounded-boeing-737-max-230998">two crashes on its 737 MAX planes</a> that claimed 346 lives.

Describing the sum as an "initial investment" over multiple years, the company said it would work with local governments and non-profit organizations to provide "hardship and living expenses" and boost economic development in regions affected by crashes of planes operated by <a href="https://www.wionews.com/world/boeing-737-max-ethiopian-airlines-chief-rejects-pilot-error-claim-in-us-227998">Ethiopian Airlines and Lion Air</a>.&nbsp;

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Today we announced $100 million in funds to address family and community needs of those affected by the tragic accidents of JT610 and ET302. These funds will support education and hardship expenses for the families and communities impacted. 
 
Learn more: <a href="https://t.co/U3XLNoW9zo">https://t.co/U3XLNoW9zo</a>
— The Boeing Company (@Boeing) <a href="https://twitter.com/Boeing/status/1146441165153218560?ref_src=twsrc%5Etfw">July 3, 2019</a></blockquote>
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Boeing faces numerous lawsuits filed by the victims' families, some of whom have appeared at news conferences or during congressional hearings probing the disasters.

The $100 million figure is less than the list price for several leading 737 MAX planes. Boeing said it would also match donations from employees to families and communities affected by the accidents.&nbsp;

"We at Boeing are sorry for the tragic loss of lives in both of these accidents and these lives lost will continue to weigh heavily on our hearts and on our minds for years to come," said Boeing chief executive Dennis Muilenburg in a statement to the media.&nbsp;

"The families and loved ones of those on board have our deepest sympathies and we hope this initial outreach can help bring them comfort."

Boeing referenced "multiple lawsuits" in an April securities filing, saying it was also cooperating with various regulatory probes.

"We cannot reasonably estimate a range of loss, if any, that may result given the ongoing status of these lawsuits, investigations, and inquiries," the company said in the securities filing.

Boeing announced on Wednesday it would give $100 million to communities and families affected by two crashes on its 737 MAX planes that claimed 346 lives. Describing the sum as an "initial investment" over multiple years, the company said it would work with local governments and non-profit organizations to provide "hardship and living expenses" and boost economic development in regions affected by crashes of planes operated by Ethiopian Airlines and Lion Air.

Boeing announced on Wednesday it would give $100 million to communities and families affected by two crashes on its 737 MAX planes that claimed 346 lives. Describing the sum as an "initial investment" over multiple years, the company said it would work with local governments and non-profit organizations to provide "hardship and living expenses" and boost economic development in regions affected by crashes of planes operated by Ethiopian Airlines and Lion Air. Today we announced $100 million in funds to address family and community needs of those affected by the tragic accidents of JT610 and ET302. These funds will support education and hardship expenses for the families and communities impacted. Learn more: https://t.co/U3XLNoW9zo — The Boeing Company (@Boeing) July 3, 2019 × Boeing faces numerous lawsuits filed by the victims' families, some of whom have appeared at news conferences or during congressional hearings probing the disasters. The $100 million figure is less than the list price for several leading 737 MAX planes. Boeing said it would also match donations from employees to families and communities affected by the accidents. "We at Boeing are sorry for the tragic loss of lives in both of these accidents and these lives lost will continue to weigh heavily on our hearts and on our minds for years to come," said Boeing chief executive Dennis Muilenburg in a statement to the media. "The families and loved ones of those on board have our deepest sympathies and we hope this initial outreach can help bring them comfort." Boeing referenced "multiple lawsuits" in an April securities filing, saying it was also cooperating with various regulatory probes. "We cannot reasonably estimate a range of loss, if any, that may result given the ongoing status of these lawsuits, investigations, and inquiries," the company said in the securities filing.

Boeing to give $100 million to families affected by two 737 MAX crashes

Boeing announced on Sunday that some of its medium-haul 737s, <a href="https://www.wionews.com/world/boeing-ceo-apologises-says-crisis-has-shaken-public-confidence-in-company-222655">including the 737 MAX 8</a>, could have a defective wing part, but that there had been no reports of flight issues linked to the defect.

The American aviation giant, which has been rocked by an unprecedented crisis<a href="https://www.wionews.com/world/french-woman-sues-boeing-seeking-at-least-276-million-over-ethiopian-crash-220460"> after its entire 737 MAX 8 fleet </a>was grounded in mid-March, said a subcontractor informed it of problems with a batch of a part involved in deploying the wings' leading edge.

The leading edge of an aircraft is key to takeoff and landing because it is meant to improve the wing's drag and therefore the jet's aerodynamics.

Boeing said in a statement that it had relayed the defective lot number to aircraft owners so they can inspect the parts in question.

If operators find the defective parts on their aircraft, they should replace them before putting the plane back in service, the company said.

"This is a device considered critical because if the leading edge slats don't deploy symmetrically, there could be a lift differential that can be dangerous especially on takeoff and landing," one aeronautics expert told AFP on condition of anonymity.

The planes were grounded after a combined 346 people died in two deadly crashes, the first in Indonesia in October followed by one in Ethiopia in March.

Long considered a "gold standard" internationally, the US Federal Aviation Administration's reputation has suffered amid scrutiny of its oversight process and reports it allowed Boeing to effectively self-certify some features of the MAX.

Boeing is working on a software fix that will allow the MAX 8 to begin flying again, but differences have arisen between the United States and Canada on how to train pilots on the software after the update.

Washington believes training on computers or tablets is sufficient for seasoned pilots, but Ottawa wants to require training on flight simulators.

Boeing announced on Sunday that some of its medium-haul 737s, including the 737 MAX 8, could have a defective wing part, but that there had been no reports of flight issues linked to the defect.

Boeing announced on Sunday that some of its medium-haul 737s, including the 737 MAX 8, could have a defective wing part, but that there had been no reports of flight issues linked to the defect. The American aviation giant, which has been rocked by an unprecedented crisis after its entire 737 MAX 8 fleet was grounded in mid-March, said a subcontractor informed it of problems with a batch of a part involved in deploying the wings' leading edge. The leading edge of an aircraft is key to takeoff and landing because it is meant to improve the wing's drag and therefore the jet's aerodynamics. Boeing said in a statement that it had relayed the defective lot number to aircraft owners so they can inspect the parts in question. If operators find the defective parts on their aircraft, they should replace them before putting the plane back in service, the company said. "This is a device considered critical because if the leading edge slats don't deploy symmetrically, there could be a lift differential that can be dangerous especially on takeoff and landing," one aeronautics expert told AFP on condition of anonymity. The planes were grounded after a combined 346 people died in two deadly crashes, the first in Indonesia in October followed by one in Ethiopia in March. Long considered a "gold standard" internationally, the US Federal Aviation Administration's reputation has suffered amid scrutiny of its oversight process and reports it allowed Boeing to effectively self-certify some features of the MAX. Boeing is working on a software fix that will allow the MAX 8 to begin flying again, but differences have arisen between the United States and Canada on how to train pilots on the software after the update. Washington believes training on computers or tablets is sufficient for seasoned pilots, but Ottawa wants to require training on flight simulators.

Medium haul 737 aircraft, including 737 MAX 8, could have defective wing part: Boeing

Boeing acknowledged Saturday it had to correct flaws in its 737 MAX flight simulator software used to train pilots, after two deadly crashes involving the aircraft that killed 346 people.

"Boeing has made corrections to the 737 MAX simulator software and has provided additional information to device operators to ensure that the simulator experience is representative across different flight conditions," it said in a statement.

The company did not indicate when it first became aware of the problem, and whether it informed regulators.

Boeing's statement about the flight simulator marked the first acknowledgement of shortcoming since the two accidents led to the grounding of the top-selling 737 MAX plane. The plane's MCAS anti-stall software has been blamed in large part for the Ethiopian Airlines tragedy.

According to Boeing, the flight simulator software was incapable of reproducing certain flight conditions similar to those at the time of the Ethiopian Airlines crash in March or the Lion Air crash in October.

The company said the latest "changes will improve the simulation of force loads on the manual trim wheel," a rarely used manual wheel to control the plane's angle.&nbsp;

"Boeing is working closely with the device manufacturers and regulators on these changes and improvements, and to ensure that customer training is not disrupted," it added.

Southwest Airlines, a major 737 MAX customer with 34 of the aircraft in its fleet, told AFP it expected to receive the first simulator "late this year."

American Airlines, which has 24 of the aircraft, said it had ordered a 737 MAX simulator that will be delivered and put into operation in December.

"As a result of the continuing investigation into both aircraft accidents, we are looking at the potential for additional training opportunities in coordination with the FAA (Federal Aviation Administration) and Allied Pilots Association," it added.

Certification process

The planes have been grounded around the world, awaiting approval from US and international regulators before they can return to service.

Only Air Canada has a MAX simulator, industry sources told AFP.

Currently, there is only one flight simulator specific to the 737 MAX in the United States, and it is owned by Boeing, according to FAA documentation.&nbsp;

US airlines train their pilots flying the MAX on a simulator built for the 737 NG, the version preceding the 737 MAX in the 737 aircraft family.

Southwest said that is because, during the certification process for the MAX, Boeing stressed that there were only minor differences with the NG and simple computer and online training could accommodate for the differences.

The FAA, the European Union Aviation Safety Agency and Canadian regulators had approved those recommendations, Boeing stresses.

However, the 737 NG lacks an MCAS, specially designed for the MAX in order to correct an aerodynamic anomaly due to its heavier motors and to prevent the plane from stalling.

Pilot training will likely be at the heart of the meeting of international regulators in Fort Worth, Texas on Thursday when the FAA will try convince its counterparts of the robustness of its certification process for the modified 737 MAX.

The American regulator has maintained that training pilots on a simulator is not essential, a position with which pilots and its Canadian counterpart disagree.

Boeing said Thursday that it completed its software update on the 737 MAX.

The proposed fix, which addresses a problem with a flight handling system thought to be a factor in both crashes, must now win approval from US and international regulators before the planes can return to service.

US airlines have targeted August as the date they expect to resume flying on the 737 MAX.

Boeing acknowledged Saturday it had to correct flaws in its 737 MAX flight simulator software used to train pilots, after two deadly crashes involving the aircraft that killed 346 people.

Boeing acknowledged Saturday it had to correct flaws in its 737 MAX flight simulator software used to train pilots, after two deadly crashes involving the aircraft that killed 346 people. "Boeing has made corrections to the 737 MAX simulator software and has provided additional information to device operators to ensure that the simulator experience is representative across different flight conditions," it said in a statement. The company did not indicate when it first became aware of the problem, and whether it informed regulators. Boeing's statement about the flight simulator marked the first acknowledgement of shortcoming since the two accidents led to the grounding of the top-selling 737 MAX plane. The plane's MCAS anti-stall software has been blamed in large part for the Ethiopian Airlines tragedy. According to Boeing, the flight simulator software was incapable of reproducing certain flight conditions similar to those at the time of the Ethiopian Airlines crash in March or the Lion Air crash in October. The company said the latest "changes will improve the simulation of force loads on the manual trim wheel," a rarely used manual wheel to control the plane's angle. "Boeing is working closely with the device manufacturers and regulators on these changes and improvements, and to ensure that customer training is not disrupted," it added. Southwest Airlines, a major 737 MAX customer with 34 of the aircraft in its fleet, told AFP it expected to receive the first simulator "late this year." American Airlines, which has 24 of the aircraft, said it had ordered a 737 MAX simulator that will be delivered and put into operation in December. "As a result of the continuing investigation into both aircraft accidents, we are looking at the potential for additional training opportunities in coordination with the FAA (Federal Aviation Administration) and Allied Pilots Association," it added. Certification process The planes have been grounded around the world, awaiting approval from US and international regulators before they can return to service. Only Air Canada has a MAX simulator, industry sources told AFP. Currently, there is only one flight simulator specific to the 737 MAX in the United States, and it is owned by Boeing, according to FAA documentation. US airlines train their pilots flying the MAX on a simulator built for the 737 NG, the version preceding the 737 MAX in the 737 aircraft family. Southwest said that is because, during the certification process for the MAX, Boeing stressed that there were only minor differences with the NG and simple computer and online training could accommodate for the differences. The FAA, the European Union Aviation Safety Agency and Canadian regulators had approved those recommendations, Boeing stresses. However, the 737 NG lacks an MCAS, specially designed for the MAX in order to correct an aerodynamic anomaly due to its heavier motors and to prevent the plane from stalling. Pilot training will likely be at the heart of the meeting of international regulators in Fort Worth, Texas on Thursday when the FAA will try convince its counterparts of the robustness of its certification process for the modified 737 MAX. The American regulator has maintained that training pilots on a simulator is not essential, a position with which pilots and its Canadian counterpart disagree. Boeing said Thursday that it completed its software update on the 737 MAX. The proposed fix, which addresses a problem with a flight handling system thought to be a factor in both crashes, must now win approval from US and international regulators before the planes can return to service. US airlines have targeted August as the date they expect to resume flying on the 737 MAX.

Boeing acknowledges flaw in 737 MAX simulator software

Aircraft manufacturing company Boeing has decided to cut production of 737 Max jets production by 20%. Watch this video to know more.

WION Wallet: Boeing decides to cut 737 Max 8 production by 20%

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