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The Boeing Company (NYSE:BA) shares are trading marginally higher premarket Wednesday. The company reportedly discovered structural cracks in its 777X jetliner during initial test flights, adding to the delays of the long-awaited aircraft.
Boeing identified a failed thrust link—a component linking the engine to the plane—during maintenance, with cracks found on two other aircraft, the WSJ reported on Tuesday.
According to the report, the company plans to ground its four-plane test fleet to replace the faulty component and investigate the issue. Boeing has notified federal regulators and customers.
The 777X, aimed at connecting major cities and accommodating around 400 passengers, was first unveiled in 2013 with an initial delivery target of 2020.
Boeing has orders for about 500 of the new aircraft, with deliveries starting in 2025. The report noted that it is unclear what impact the issue could have on the launch date.
This new setback may push the launch to 2026 and impact investor confidence, according to RBC analyst Ken Herbert, which the report highlighted.
Boeing has been in the pickle for several months due to FAA inspections, halted test flights, and regulatory headwinds.
Yesterday, the U.S. Federal Aviation Administration (FAA) reportedly disclosed that inspections of Boeing 787 Dreamliners will be required following a March incident in which LATAM Airlines plane experienced a sudden mid-air dive, injuring over 50 passengers.
Read: NTSB Calls Out Boeing For Safety Lapses: FAA Steps Up Scrutiny
Investors can gain exposure to the stock via IShares U.S. Aerospace & Defense ETF (BATS:ITA) and Gabelli Commercial Aerospace and Defense ETF (NYSE:GCAD).
Price Action: BA shares are up 0.12% at $172.30 premarket at the last check Wednesday.
Photo via Shutterstock
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
