The Boeing Company [NYSE: BA] has discovered the manufacturing defects in its 787 Dreamliner Jets. The company also ordered to remove defected planes from service so they can be repaired.
The Boeing Company disclosed that they found two distinct manufacturing issues in the fuselage section toward the back of the aircraft. The design doesn’t meet the design standards of Boeing.
Shares of Boeing traded up 1.34%, or up +2.30 during the trading of Thursday. This company has a closing price of $174.20. It has a day low range of $173.56 and a day high range of $181.31.
Boeing had a trading volume of 29.3 million as compared to the average volume of 45.05 million. It has recorded the 52-weeks low range of $89.00 and a high range of $391.00.
Its share rose 95.73% from its 52-weeks low and decreased down -55.45% from its 52-weeks high range. This company has a total market capitalization of 99.55 billion.
After finding the manufacturing defect in 787 Dreamliner, Boeing had alerted Federal Aviation Administration. The company is currently trying to find the cause of the problem.
If we look at the profitability of Boeing, its return on assets (ROA) is -2.00%, return on equity (ROE) is 33.40%, and return on investment (ROI) is -1.90%. Its Gross Margin is 5.60%, Profit Margin is -4.10%, and an Operating Margin is -7.60%.
Continuing to look at its liquidity, this company’s current ratio is 1.40 and its quick ratio is 0.50. Boeing has reported sales of 69.26 billion.
One of the defected aircraft is operated by Singapore Airlines Ltd. The Jet is currently not in service and the airline is in close contact with Boeing to resolve the issue. The Boeing has notified the respective airlines so that they resolve the issue.