Boeing Comments on NTSB Update

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On Thursday, Boeing (NYSE: BA  ) issued a statement in response to the U.S. National Transportation Safety Board's most recent update on its investigation into a battery fire onboard a Boeing 787, one of multiple safety incidents aboard Boeing 787 airliners of late. The statement, summarized in two words: "No comment."

Specifically, Boeing reiterated its support for NTSB's investigation and that of other government agencies in the U.S. and Japan into the causes of electrical fires, brake failures, and fuel leaks aboard its flagship product and said it continues to assist the agency and other government agencies in both the U.S. and Japan, which are investigating the 787 incidents. Boeing pointed out that it has assigned "hundreds of engineering and technical experts" to the matter and that they are "working around the clock" to find and fix the problems and get 787s airborne again.

However, as regards what the NTSB and other agencies have found from their investigations into the matter, Boeing says it will not comment directly so as to "ensure the integrity of the process and in adherence to international protocols that govern safety investigations."

The NTSB issued a press  release Thursday saying that in its ongoing investigation into a Jan. 7 Boeing 787 battery fire in Boston, "We have not ruled anything out as a potential factor in the battery fire; there are still many questions to be answered." The agency said the investigation had showed that the battery in the B-787 fire in Boston showed signs of short circuiting, and had indications of "thermal runaway, a situation in which a significant temperature increase can initiate a destructive chain reaction." NTSB Chairman Deborah A.P. Hersman expressed concerns about the adequacy of the systems to prevent such a fire from occurring.

Shares of Boeing closed 1.4% higher Thursday at $75.32.

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9/28/2016 4:04 PM
BA $132.23 Up +0.91 +0.69%
Boeing CAPS Rating: ****