Two of Japan’s largest airlines grounded all of their 787 jets made by The Boeing Company (BA) on Wednesday due to complications with the aircrafts. This continues the woes for the aerospace giant as troubles with its newest passenger plane continue.
The Boeing 787 is known as the Dreamliner. The aircraft is Boeing’s newest and most technologically advanced jet. However, since its launch, which was delayed by three year, thse plane has experienced a number of complications that are starling to worry airlines, passengers, regulators, and investors.
Japan’s All Nippon Airways and Japan Airlines are among the biggest customers buying the Boeing 787 and the first to fly the new jet. The airways have voluntarily grounded the total 24 Dreamliners following the most recent troubles.
Some of the problems experienced by the Dreamliner jets over the past couple of weeks are engine troubles and various electrical fires, among other issues. Boeing has declared the problems as just growing pains for the new product. Luckily, only one person has sustained minor injuries due to the incidents.
The Japanese transportation authority and the US Federal Aviation Administration are looking into the Dreamliner’s problems.
Shares of Boeing were down $2.78, or -3.61%, during premarket trading on Wednesday. The stock is up +3.14% over the past year.
The Bottom Line
Shares of Boeing (BA) have a 2.52% dividend yield, based on last night’s closing stock price of $76.94. The stock has technical support in the $70-$72 price area. If the shares can firm up, we see overhead resistance around the $80 price level.
The Boeing Company (BA) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.