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☆ Boeing investigation: Labor complaint reveals allegations of company’s retaliation against two workers
▼ + stars: | 2024-04-23 | by ( Ross Levitt | Pete Muntean | ) edition.cnn.com time to read: +3 min

The union says it is trying to appeal a decision not to change the performance evaluation of one of the workers. Boeing says the investigation was part of a confidential process and that the report could only be shared with the FAA. The complaint filed on behalf of the two engineers involves a different issue— the onboard computer networks on the planes. The union says Boeing managers “strongly objected” to rerunning calculations regarding the systems based on new assumptions, citing cost and production delays, but that Boeing ultimately agreed. Boeing re-did the required analysis,” the press release says.

Persons: “, SPEEA, ”, Sam Salehpour, Rich Plunkett Organizations: CNN, Boeing, Federal Aviation Administration, Society of Professional Engineering Employees, Aerospace, National Labor Relations, Boeing’s, FAA, ” Boeing, Strategic

☆ Boeing somehow managed to get itself into even bigger trouble
▼ + stars: | 2024-04-10 | by ( David Goldman | ) edition.cnn.com time to read: +8 min

New York CNN —Boeing has achieved the unthinkable this week: It managed to fall even deeper into crisis. It ultimately approved the planes for shipments to airlines in March 2023 after becoming satisfied that Boeing had fixed the problem. Then, during the first weekend of 2024, part of an Alaska Airlines 737 Max blew off the side of the plane just after take-off, and Boeing has been in crisis mode ever since. In February, pilots on a United Airlines 737 Max reported that the flight controls jammed as the plane landed in Newark, New Jersey. The FAA is allowing the planes to continue flying and Boeing said the problem does not pose an immediate safety risk.

Persons: Sam Salehpour, Salehpour, McDonnell Douglas, Max, Boeing hasn’t, Dave Calhoun, Mike Whitaker, Whitaker, What’s, Boeing’s, Airlines, hasn’t Organizations: New, New York CNN, Boeing, US Federal Aviation Administration, FAA, New York Times, Alaska Airlines, National Transportation Safety Board, United Airlines, Airbus, Airlines Locations: New York, Newark , New Jersey

☆ Dave Calhoun was the CEO hired to fix Boeing. It has been in crisis since he took over
▼ + stars: | 2024-03-14 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

So how does CEO Dave Calhoun still have a job? Boeing said it is working closely with regulators’ investigations and has plans in place to improve safety measures at its production facilities. Boeing’s 737 Max problems would be egregious enough on its own. But Dave Calhoun, Boeing’s chief executive since 2020, remains in his job, as does the entire C-suite at the time of this writing. Boeing hired Calhoun to right the ship.

Persons: New York CNN —, Dave Calhoun, “ It’s, ” Richard Aboulafia, ”, Max, John Barnett, Barnett’s, ‘, Calhoun, ’ ”, Aboulafia, McDonnell Douglas, “, ” Aboulafia, Boeing hasn’t, haven’t, ” Gad Allon, Allon isn’t Organizations: New, New York CNN, Boeing, ” Boeing, Airbus, CNN, University of Pennsylvania’s Wharton School of Business Locations: New York, Australia, New Zealand, Calhoun

☆ How do we solve a problem like Boeing?
▼ + stars: | 2024-03-13 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

New York CNN —It took decades for Boeing to build a reputation as one of the most reliable companies on the planet. The latest headache for Boeing came Monday, when a 787 Dreamliner flying from Australia to New Zealand plunged suddenly mid-flight, injuring several passengers. It’s not clear what, if any, culpability Boeing has here — it said it’s gathering information about what went wrong. So, how do we solve a problem like Boeing? “This can be really as big as a financial crisis,” considering how many businesses around the world rely on Boeing planes.

Persons: CNN Business ’, Tesla, Brian Jokat, it’s, can’t, ” Gad Allon, “, ” Allon isn’t, Matt Stoller, ” Stoller, that’s, “ There’s, ” Allon Organizations: CNN Business, New York CNN, Boeing, American, Regulators, Latam Airlines, CNN, Wall Street Journal, FAA, Airbus, Pilots, University of Pennsylvania’s Wharton School of Business, American Economic Liberties, Boeing isn’t Locations: New York, Australia, New Zealand, American

☆ Boeing is unable to provide key information in door plug blowout investigation, NTSB chair says
▼ + stars: | 2024-03-13 | by ( Gregory Wallace | ) edition.cnn.com time to read: +3 min

CNN —Investigators probing the Boeing 737 Max blowout say their investigation is being held back by Boeing’s lack of a paper trail for key work. Boeing recently said it has searched for records but believes its employees did not document the work. The letter noted that Boeing has also been unable to provide security footage of the September 2023 work, which included removing and reinstalling the door plug. Boeing told CNN that 30-day record retention policy for security camera footage is standard practice. The letter revealed that the NTSB’s first request to Boeing for relevant employees’ names came on January 9 — four days after the mid-flight incident.

Persons: Jennifer Homendy, Homendy, ”, “ Organizations: CNN, Boeing, Max, National Transportation Safety Board, Alaska Airlines, Senate, NTSB, ” NTSB, Transportation Safety Board, Alaska Airlines Flight, Getty, ” Boeing Locations: Boeing’s Renton , Washington, Boeing’s, Portland , Oregon, Ontario , California

☆ Premarket stocks: Congress has bad news for Wall Street
▼ + stars: | 2024-03-13 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

New York CNN —Dealmaking is the lifeblood of Wall Street. But analysts say that funding cuts in the plan could end up harming mergers and acquisitions on Wall Street, squashing hopes of a recovery in dealmaking. The bad news: Recent regulations and proposed budget cuts threaten to step on those green shoots before they’re able to flower. Why it matters: Dealmaking isn’t just good for Wall Street. Shares of the stock are down nearly 30% so far this year after its seemingly nonstop streak of bad luck.

Persons: New York CNN — Dealmaking, Joe Biden, squashing, It’s, Goldman Sachs, ”, Lucille Jones, Jones, Mitch Berlin, Biden, ’, ” Berlin, That’s, Hewlett Packard, “, TikTok —, Brian Fung, TikTok, Shou Chew, Nadya Okamoto, Okamoto, Teddy Siegel, Siegel, David Goldman, LATAM, it’s, Max Organizations: CNN Business, Bell, New York CNN, Wall, LSEG, Federal Reserve, Federal Trade Commission, Department of Justice, Congressional, Office, CNN, Discover Financial Services, Hewlett, Juniper Networks, Target, Boeing, Alaska Airlines, United Airlines, The National Transportation Safety, Federal Aviation Administration, FAA, NTSB Locations: New York, dealmaking, EY, Berlin, “, LSEG, Australia, New Zealand, Newark

☆ Boeing is in big trouble
▼ + stars: | 2024-03-12 | by ( David Goldman | ) edition.cnn.com time to read: +4 min

LATAM called it a “technical event.” Boeing said it’s working to gather more information. Between lawsuits, potential fines and lost business, Boeing could lose billions more dollars from the blowout. In February, pilots on a United Airlines 737 Max reported that the flight controls jammed as the plane landed in Newark. The FAA is allowing the planes to continue flying and Boeing said the problem does not pose an immediate safety risk. And the FAA said Boeing’s safety and quality problems extend beyond its inability to produce paperwork.

Persons: CNN —, LATAM, it’s, Max, Mike Whitaker, ” Whitaker, Whitaker, “, ” Boeing’s, It’s, CNN’s Colin McCullough, Greg Wallace Organizations: CNN, Boeing, Alaska Airlines, United Airlines, The National Transportation Safety, Federal Aviation Administration, FAA, NTSB Locations: Australia, New Zealand, Newark

The Justice Department has begun a criminal investigation into Boeing after a panel on one of the company’s planes blew out on an Alaska Airlines flight in early January, a person familiar with the matter said. to be conducting an investigation,” Alaska Airlines said in a statement. “We are fully cooperating and do not believe we are a target of the investigation.” Boeing had no comment. On Jan. 5, a panel on a Boeing 737 Max 9 jet operated by Alaska Airlines blew out in midair, exposing passengers to the outside air thousands of feet above ground. The panel is known as a “door plug” and is used to cover a gap left by an unneeded exit door.

Persons: ” Organizations: Department, Boeing, Alaska Airlines, ” Boeing, Max, National Transportation Safety Board

☆ NTSB probing ‘stuck’ control incident on Boeing 737 Max
▼ + stars: | 2024-03-07 | by ( Pete Muntean | Gregory Wallace | ) edition.cnn.com time to read: +2 min

CNN —Boeing is now party to a new federal investigation involving a 737 Max after United Airlines pilots reported that part of the flight controls became jammed as they landed in Newark last month. The investigation is the latest to involve a nearly-new Boeing 737 Max aircraft following the door plug blowout on an Alaska Airlines 737 Max 9 on January 5. The NTSB says in this latest incident, the 737 Max 8 was delivered from Boeing to United Airlines in February 2023. We’ll continue to work with Boeing, the NTSB and the FAA on next steps for these aircraft,” United said in a statement. “We worked closely with United Airlines to diagnose the rudder response issue,” Boeing said in a statement.

Persons: “, ‘, Max, We’ll, ” United, ” Organizations: CNN, Boeing, Max, United Airlines, National Transportation Safety, NTSB, Alaska Airlines, Collins Aerospace, FAA, ”, ” Boeing, United Locations: Newark, United

☆ Aviation safety panel finds Boeing culture included safety ‘gaps,’ fear of retaliation
▼ + stars: | 2024-02-26 | by ( Chris Isidore | Gregory Wallace | ) edition.cnn.com time to read: +3 min

CNN —The Federal Aviation Administration issued a report Monday sharply critical of the safety culture at Boeing, following two fatal crashes and several years of safety and quality issues at the troubled aircraft maker. Its work included conducting more than 250 interviews and reviewing more than 4,000 pages of documents, and focused on both safety culture and the FAA program that delegates some aircraft certification work to Boeing employees. The panel was not charged with reporting on any specific incident involving Boeing aircraft. “However on several occasions during the expert panel’s activities, serious quality issues with Boeing products became public. In particular, it found Boeing repeatedly revised its Safety Management System – or SMS – manual, which is suppose to guide employees on procedures they should follow to insure planes are safe.

Persons: Boeing’s repreated, ”, Dave Calhoun, “ Organizations: CNN, Federal Aviation Administration, Boeing, FAA

☆ We’re about to get investigators’ first report on the Alaska Airlines flight whose door plug blew off
▼ + stars: | 2024-02-06 | by ( Pete Muntean | ) edition.cnn.com time to read: +2 min

CNN —The National Transportation Safety Board will release its preliminary report Tuesday on last month’s blowout of a part of an Alaska Airlines Boeing 737 Max 9 flight, NTSB spokesman Eric Weiss told CNN. On a January 5 Alaska flight 1282, the door plug blew off the side of the plane. The door plug fills a space in the fuselage that can otherwise contain an emergency exit door when plane seats are arranged a certain way. CNN has reported that NTSB investigators have been closely scrutinizing the door plug and whether crucial bolts that hold it in place were properly installed when the incident occurred. Meanwhile, the head of the Federal Aviation Administration will tell House lawmakers Tuesday that his agency is “closely scrutinizing” Boeing after last month’s door plug blowout.

Persons: Eric Weiss, Mike Whitaker, Whitaker, “, ” Whitaker, ” Organizations: CNN, Transportation, Alaska Airlines Boeing, Max, Federal Aviation Administration, Boeing, NTSB, FAA Locations: Alaska, United States, Renton , Washington

☆ Boeing Suspends Financial Outlook as It Focuses on Safety
▼ + stars: | 2024-01-31 | by ( Sydney Ember | More About Sydney Ember | ) www.nytimes.com time to read: +1 min

Boeing on Wednesday said that it would not provide a full-year financial forecast, the clearest indication yet that the company is trying to assure customers that it is prioritizing safety amid growing concerns about its popular 737 Max jets. Even as it announced its quarterly earnings, the company chose to focus instead on discussing quality control. Boeing is trying to stem the fallout from an incident less than four weeks ago in which a hole blew open on an Alaska Airlines 737 Max 9 plane shortly after takeoff. “While we often use this time of year to share or update our financial and operational objectives, now is not the time for that,” Boeing’s chief executive, Dave Calhoun, wrote in a message to employees. Quality concerns have taken on new urgency after news accounts, including in The New York Times, that Boeing workers opened and reinstalled the panel that blew off the plane, known as a door plug.

Persons: ”, Dave Calhoun Organizations: Boeing, Alaska Airlines, The New York Times

☆ Before part of an Alaska Airlines plane blew off, Boeing had removed and adjusted it, reports say
▼ + stars: | 2024-01-25 | by ( David Goldman | ) edition.cnn.com time to read: +6 min

Boeing and Spirit AeroSystems are under multiple investigations that probe their safety policies and procedures. Boeing said it couldn’t comment on the reports about what may have led to the door plug blowing off the plane, citing the ongoing investigation. The process also includes tightening fasteners and performing “detailed inspections of…dozens of associated components.”FAA on Sunday also required airlines to ensure older Boeing 737 planes with similar door plugs were secure. The FAA said airlines operating the Boeing 737-900ER model should visually inspect the planes but didn’t require them to be grounded. Two Max variants — the Max 7 and the Max 10 — are still awaiting approval to begin carrying passengers.

Persons: Max, AeroSystems, Washington Democratic Sen, Maria Cantwell, ”, David Calhoun, Jennifer Homendy, Ben Minicucci, Lester Holt, Mike Whitaker, Whitaker, “, —, Wells Organizations: New, New York CNN, Boeing, Alaska Airlines, New York Times, Seattle Times, Federal Aviation Administration, National Transportation Safety, Washington Democratic, Senate, US National Transportation, ” Boeing, Max, NBC, FAA, ., Sunday Locations: New York, . Airlines, Alaska, United, Indonesia, Ethiopia

☆ The 737 Max grounding will cost Alaska Airlines $150 million
▼ + stars: | 2024-01-25 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

New York CNN —The grounding of the 737 Max 9 after a January 5 incident that blew a hole in the side of an Alaska Airlines plane earlier this month will cost the airline about $150 million, Alaska announced Thursday. The door plug blew off an Alaska Airlines flight on January 5, leaving a gaping hole in the side of the plane. While no passengers were killed, the incident led the Federal Aviation Administration to order a grounding of all 737 Max 9 jets. Alaska Airlines CEO Ben Minicucci told NBC in an interview Tuesday that the carrier found “some loose bolts on many” Boeing 737 Max 9 during its inspections. Alaska and United are the only US airlines with the 737 Max 9 jet in their fleets.

Persons: Max, Ben Minicucci, “, ”, Robert Isom, It’s Organizations: New, New York CNN, Alaska Airlines, Federal Aviation Administration, FAA, Alaska Air, NBC, Boeing, Max, Refinitiv, Southwest Airlines, American, CNBC Locations: New York, Alaska, United

☆ Alaska Airlines CEO says company found loose bolts on ‘many’ Boeing Max 9s
▼ + stars: | 2024-01-23 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +2 min

New York CNN —Alaska Airlines CEO Ben Minicucci revealed the carrier found “some loose bolts on many” Boeing 737 Max 9s in an interview for “NBC Nightly News with Lester Holt” scheduled to air Tuesday. The US Federal Aviation Administration urged airlines on Sunday to inspect so-called door plugs on an earlier version of Boeing 737 airplanes. After recent inspections of the newer Max 9s, United Airlines and Alaska Airlines have found loose bolts. NBC asked Minicucci if Boeing has a problem with quality control extending beyond a single plane. We will follow the lead of the FAA and support our customers every step of the way.”The CEO of United Airlines, one of the biggest buyers of Boeing jets, also expressed frustration with the company.

Persons: Ben Minicucci, Lester Holt ”, ” Minicucci, Max, that’s what’s, ”, Minicucci, Stan Deal, “ I’m, Scott Kirby, they’ve, ” CNN’s Chris Isidore, Gregory Wallace, Hanna Ziady Organizations: New, New York CNN, Alaska Airlines, Boeing, Max, NBC, US Federal Aviation Administration, United Airlines, FAA, Airplanes, United, CNBC Locations: New York, Portland , Oregon, Ontario , California, Alaska

☆ The FAA’s 737 Max probe just widened to include Spirt Aerosystems
▼ + stars: | 2024-01-17 | by ( Pete Muntean | Curt Devine | ) edition.cnn.com time to read: +4 min

Washington CNN —The US Federal Aviation Administration is expanding its probe into Boeing 737 Max 9 quality control following this month’s in-flight blowout of a part of an Alaska Airlines plane. In a new statement released Wednesday, the FAA says it is now investigating contractor Spirit AeroSystems, which builds the fuselage of the Boeing 737 Max 9. Spirit Aerosystems did not immediately respond to a request for comment. The FAA says all 171 Boeing 737 Max 9s in the United States remain grounded, the agency has received new data from preliminary inspections of 40 of those airplanes. Spirit Aerosystems’ history of troubleShareholders of Spirit AeroSystems last year filed a federal lawsuit against the company, accusing it of “widespread and sustained quality failures” in its products.

Persons: Spirit, Boeing “, Aerosystems, “, Max, Spirit AeroSystems, Lever, Joe Buccino, AeroSystems, ” Organizations: Washington CNN, US Federal Aviation Administration, Boeing, Max, Alaska Airlines, FAA, NTSB, Spirit, ” Locations: United States

☆ Boeing is letting airlines into its factories as preliminary inspections begin on the 737 Max 9
▼ + stars: | 2024-01-15 | by ( Pete Muntean | Ross Levitt | ) edition.cnn.com time to read: +2 min

CNN —Boeing says it will give airlines more oversight of its facilities following the Alaska Airlines Flight 1282 incident in which a part of the plane fell off mid-flight. The plane maker said Monday that in addition to extra quality control inspections on the 737 production line, it will allow airlines into Boeing factories and those of contractor Spirit AeroSystems, which builds Max 9 fuselage. Alaska Airlines said it is in the middle a “thorough review of Boeing’s production quality and control systems.” The airline has 65 Boeing 737 Max 9s with another 25 on order, according to fleet data from airlines analytics firm Cirium. Boeing 737 Max 9s remain grounded in the United States as airlines Alaska and United await emergency inspection guidance from the Federal Aviation Administration. On Friday, the FAA announced it will audit Boeing’s production practices as it considers mandating an independent third-party oversee Boeing quality.

Persons: Spirit, Stan Deal, ”, “, Max Organizations: CNN, Boeing, Alaska Airlines, Federal Aviation Administration, Boeing Commercial, Alaska, Max, FAA, National Transportation Safety Locations: Alaska, United States, United, Washington, DC

☆ FAA keeps Boeing’s 737 Max 9 grounded as it reviews inspections and data
▼ + stars: | 2024-01-12 | by ( Pete Muntean | ) edition.cnn.com time to read: +6 min

CNN —The Federal Aviation Administration said on Friday that after reviewing Boeing’s instructions for inspecting grounded 737 Max 9 planes, it has decided to seek more information before allowing the plan to proceed. One hundred and seventy-one of the planes remain grounded in the United States as airlines Alaska and United await updated emergency inspection guidance from the FAA. The FAA said it plans to collect data from the inspection of 40 of the planes using Boeing’s procedures before deciding whether the process will work for the rest of the grounded planes. It’s unclear whether the 40 planes will come from the Alaska Airlines fleet or the United Airlines fleet – the two airlines that fly this model of aircraft – or both. The agency’s latest move comes as the FAA also plans to audit the Boeing 737 Max 9 production line and its suppliers, with a focus on ensuring quality control.

Persons: “, Mike Whitaker, ”, Whitaker, ” Whitaker, David Calhoun, “ We’re, ” Calhoun, Dave Calhoun, Calhoun, ” Jennifer Homendy, CNN’s Poppy Harlow Organizations: CNN, Federal Aviation Administration, FAA, Boeing, Max, Alaska Airlines, United, United Airlines, Wednesday, CNBC Locations: United States, Alaska, ”, Indonesia, Ethiopia

☆ Spirit AeroSystems takes $110 million in charges, profit hit on Boeing 737
▼ + stars: | 2023-05-03 | by ( Valerie Insinna | Abhijith Ganapavaram | ) www.reuters.com time to read: +3 min

WASHINGTON (Reuters) -Spirit AeroSystems Holdings Inc on Wednesday took a hefty $110 million loss in reach-forward charges on Airbus and Boeing jet production and expects a further hit of $31 million to full-year gross profit from disruptions related to a Boeing 737 MAX fuselage production problem. Slideshow ( 2 images )The company announced $110 million in charges on the Airbus A220, Airbus A350 and Boeing 787 during its first-quarter results. Spirit now expects cash burn of about $100 million to $150 million in 2023 due to the risk of lowered 737 fuselage deliveries. The company has also started to build and deliver production-conforming 737 fuselages under a revised process, it said. Cash burn was $69 million in the first quarter, compared with a cash burn of $298 million a year ago.

☆ Boeing forced to halt 787 Dreamliner deliveries once again
▼ + stars: | 2023-02-24 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

New York CNN Business —Boeing has been forced to halt deliveries of the 787 Dreamliner once again, just months after it resumed deliveries to customers following a year-long halt. “We notified the FAA and have paused 787 deliveries while we complete the required analysis and documentation.”“Deliveries will not resume until the FAA is satisfied that the issue has been addressed,” said the agency. Boeing continued to build the 787 even while it was prevented from making deliveries in late 2021 and much of 2022. It was able to deliver much of that backlog once it was given clearance to resume deliveries, as it delivered 34 Dreamliners between August of last year and January of this year. Boeing plans to maintain assembly of the planes once again during this current delivery halt.

☆ Ryanair is making record profits as booming demand sends airfares soaring
▼ + stars: | 2023-01-30 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

The low-cost European carrier told customers in an earnings statement on Monday to “book early” before cheaper tickets sell out. It reported record profit for the three months to December 31, increasing airfares by 14% compared to their pre-pandemic level. Passenger numbers for the quarter through December climbed to a record 38.4 million. Fares for the quarter were higher than in 2019 “because of a very strong Christmas and New Year period,” according to O’Leary. It expects that number to grow to 185 million passengers over the 12 months to March 2024.

☆ Boeing's role in building NASA's new rocket
▼ + stars: | 2023-01-20 | by ( Jackie Wattles | ) edition.cnn.com time to read: +18 min

The mobile launcher with NASA's SLS rocket and Orion spacecraft rolls out of the Vehicle Assembly Building's High Bay 3 to Launch Complex 39B on Tuesday, Aug. 16, 2022, at NASA's Kennedy Space Center in Florida. “I worked over 50 Space Shuttle launches,” Boeing SLS program manager John Shannon told CNN by phone. Though more than 1,000 companies were involved with designing and building SLS, Boeing’s work involved the largest and most expensive portion of the rocket. The SLS rocket ended up flying its first launch more than six years later than originally intended. All of the “major components” for a third SLS rocket are also completed, Shannon added.

☆ Boeing pays $200 million to settle SEC charges over 737 Max safety claims
▼ + stars: | 2022-09-23 | by ( The Associated Press | ) www.nbcnews.com time to read: +3 min

Boeing Co. will pay $200 million to settle charges that the company and its former CEO misled investors about the safety of its 737 Max after two of the airliners crashed, killing 346 people. Neither Boeing nor Muilenburg admitted wrongdoing, but they offered to settle and pay penalties, including $1 million to be paid by Muilenburg, who was ousted in December 2019, nine months after the second crash. The SEC said Boeing and Muilenburg knew that the flight system, known as MCAS, posed a safety issue but promised the public that the plane was safe. “Boeing and Muilenburg put profits over people by misleading investors about the safety of the 737 Max all in an effort to rehabilitate Boeing’s image” after the crashes, said Gurbir Grewal, director of the SEC’s enforcement division. Boeing said it has made “broad and deep changes across our company in response to those accidents” to improve safety and quality.

☆ Boeing agrees to pay $200 million for misleading the public about the 737 Max
▼ + stars: | 2022-09-22 | by ( David Goldman | ) edition.cnn.com time to read: +2 min

The SEC alleges that, following an October 2018 crash of a Lion Air 737 Max jet that killed 189 people, Boeing and Muilenburg knew that part of the plane’s flight control system posed an ongoing safety concern yet told the public that the 737 Max was safe to fly. After a March 10, 2019 fatal 737 Max crash, the SEC alleges that Boeing and Muilenburg knowingly misled the public about “slips” and “gaps” in the certification process of that flight control system. Boeing agreed to pay a $200 million settlement, and Muilenburg agreed to pay $1 million. The fines, though large, pale in comparison to the financial hit Boeing has taken over the years because of the 737 Max. Shares of Boeing (BA) fell more than 3% Thursday but rose slightly in afterhours trading following the SEC’s announcement.

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