Regulations by the U.S. have grounded 171 MAX 9 aircraft after a panel detached from an Alaska Airlines flight shortly after departing from a Portland, Oregon airport, resulting in a safe yet sudden landing. Technicians from Alaska Airlines suggest that there may have been loose hardware on certain aircraft. The final documentation from Boeing and the U.S. Federal Aviation Administration (FAA) is awaited. Carriers such as United that operate the 737 MAX 9 have detected the requirement of tightening several panel bolts. These new findings have stirred concerns within the MAX 9 line involved with the grounding.
Boeing’s MAX 9 conundrum
Boeing is predicted to modify the guidelines previously handed over to airlines. However, FAA approval will be essential before any repairs can be initiated. Boeing has assured its customers of its availability and response to address any findings during inspection. Following a reassurance of commitment to safety and quality, Boeing expressed regret for the inconvenience these events have caused to their clients and the passengers.
Carrier concerns rising
Increasing passenger safety concerns have instigated fresh pressure on aircraft manufacturer Boeing, which has been grappling with several production issues since the larger grounding of the 737 MAX family back in March 2019. Boeing’s stock price plunged 8% on Monday and may continue to do so, hence affecting financial and Forex markets.
FAA inspections and impact
The FAA is enforcing enhanced inspections with no comments on loose bolt reports. It has been speculated that these inspections may take several days, leading to significant flight cancellations and a shake-up in the aviation industry. Disruptions are expected to be prolonged, adding to the uncertainty and volatility in the market, thus affecting trades and Forex markets.
Overall, this incident has raised serious quality control issues and could significantly impact the financial market, impacting forex trading and potential assets like Alaska airlines, United, Boeing, and Spirit AeroSystems.