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Is Now the Time to Invest in Boeing?
After a year of setbacks, company stock has taken off
It’s been a tough year for Boeing.
The aviation giant, which employs over 153,000 people around the globe, made headlines in October of 2018 when a Boeing 737 MAX crashed in Indonesia. The accident, which killed all 189 passengers, was deemed to have been caused by a design flaw in the plane’s Maneuvering Characteristics Augmentation System (MCAS). In March of 2019, a Boeing 737 MAX crashed in Ethiopia, killing the 157 people on board. Once again, it was determined that the MCAS led to the accident.
The two deadly crashes led to the grounding of all Boeing 737 MAX planes, which dented the company’s stock price and lowered consumer loyalty. And that, unfortunately, was only the beginning of problems that plagued the aircraft producer. Boeing was unable to meet deadlines on a contract to produce the KC-46 tanker for the U.S. Air Force; then, in December, the company’s unmanned Starliner capsule made headlines when it was unable to reach orbit to dock with the International Space Station. To make matters worse, travel shutdowns caused by COVID-19 have lowered company stock even further.
It’s an understatement to say that Boeing has merely been impacted by these events. The company has made drastic plans to reduce…
