The Boeing Company (NYSE: BA) has made an announcement earlier that the firm is intending to swap engine covers on its 777 jets. This announcement was made by the firm month before the serious incident occurred. The 777s jets of the firm are working on Pratt & Whitney PW4000 engines.
Earlier, a serious incident has occurred in the territory of Denver where the jet has started shedding debris. Previously, the same type of engine failures has also happened which forced the Boeing Company to swap the covers on its 777s Jets.
Shares of The Boeing Company (NYSE: BA) went down 5.30% as it lost -12.16 in the trading session of Thursday. The trading volume of the firm remained at 10.53 million shares, compared with the average volume of 15.16 million. The market value of The Boeing Company reached 128.18 billion.
After the incident of engine failure, the FAA has instructed the urgent assessment of 777s. Earlier the incident with the same aircraft has occurred in 2018 which brought the FAA and The Boeing Company together to pinpoint the issues in aircraft. Boeing has not commented on the news of the replacement of the jet’s cover.
After the engine failure incident, the attention is on the engine's maker, Pratt & Whitney. It has been reported by Reuters that its engine cover, or exterior, is produced by Boeing. Boeing has refused to give its declaration on its manufacturing role. Inspections carried out involve older 777s equipped with Pratt & Whitney engines. Newer models, mainly driven by rival General Electric, won't be disturbed.