There seems to be no end to Boeing’s (BA - Free Report) miseries as its commercial business line took a strong hit, this time from its wide-body jet program, 777X. Notably, a cargo door of a 777X model exploded during a structural test performed on the ground last week, thereby further delaying the fleet’s delivery schedule.
This unprecedented incident is a big blow for Boeing, which has been in a tough spot since the grounding of its 737 Max in March. Airline companies, which were to add the 777X model in their fleet, are also likely to suffer.
Details on 777X Setback
The recent explosion in 777X’s cargo door has forced Boeing to suspend the structural load tests of this jet family. As a result of this flight-testing failure, Boeing will have to get the door replaced and repeat the final stages of the test, thus leading to a further delay in deliveries of 777X jets.
Notably, in June, the 777X program was hurt by durability issues associated with General Electric (GE - Free Report) GE9X engine’s high-pressure compressor. This eventually delayed engine certification for 777X, pushing 777X scheduled first flight to 2020.
Airline Companies Likely to be Affected
Some of the major airliners across the globe have been regular customers of Boeing's varied aircraft programs. The newest addition to its twin-isle jet portfolio is 777X, which will see Boeing’s latest technologies being implemented on its renowned 777 aircraft, including folding wingtips. Some of the major airline companies that have already placed orders for 777X include Emirates, Etihad Airways, Cathay Pacific (CPCAY - Free Report) , Singapore Airlines, All Nippon Airways, among others.
Per a report by Simple Flying, a total of 344 aircraft of the 777X were on order, toward the end of August, with the most recent order coming from British Airways. Lufthansa, with 20 777-9X aircraft on order, was supposed to be the first airline company to fly the Boeing 777X. However, this, in all certainty, will get delayed due to the recent failure of the aircraft’s test program. Such lengthy delays will eventually postpone aircraft deliveries, which, in turn, can hurt operations of the aforementioned airline companies.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
There seems to be no end to Boeing’s (BA - Free Report) miseries as its commercial business line took a strong hit, this time from its wide-body jet program, 777X. Notably, a cargo door of a 777X model exploded during a structural test performed on the ground last week, thereby further delaying the fleet’s delivery schedule.
This unprecedented incident is a big blow for Boeing, which has been in a tough spot since the grounding of its 737 Max in March. Airline companies, which were to add the 777X model in their fleet, are also likely to suffer.
Details on 777X Setback
The recent explosion in 777X’s cargo door has forced Boeing to suspend the structural load tests of this jet family. As a result of this flight-testing failure, Boeing will have to get the door replaced and repeat the final stages of the test, thus leading to a further delay in deliveries of 777X jets.
Notably, in June, the 777X program was hurt by durability issues associated with General Electric (GE - Free Report) GE9X engine’s high-pressure compressor. This eventually delayed engine certification for 777X, pushing 777X scheduled first flight to 2020.
Airline Companies Likely to be Affected
Some of the major airliners across the globe have been regular customers of Boeing's varied aircraft programs. The newest addition to its twin-isle jet portfolio is 777X, which will see Boeing’s latest technologies being implemented on its renowned 777 aircraft, including folding wingtips. Some of the major airline companies that have already placed orders for 777X include Emirates, Etihad Airways, Cathay Pacific (CPCAY - Free Report) , Singapore Airlines, All Nippon Airways, among others.
Per a report by Simple Flying, a total of 344 aircraft of the 777X were on order, toward the end of August, with the most recent order coming from British Airways. Lufthansa, with 20 777-9X aircraft on order, was supposed to be the first airline company to fly the Boeing 777X. However, this, in all certainty, will get delayed due to the recent failure of the aircraft’s test program. Such lengthy delays will eventually postpone aircraft deliveries, which, in turn, can hurt operations of the aforementioned airline companies.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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