Boeing Company (NYSE: BA) shares are trading lower Monday after the Federal Aviation Administration (FAA) opened a new investigation related to the company's inspections of its 787 Dreamliner.
The Details:
According to a Wall Street Journal report, the FAA said Boeing notified the agency in April that it may not have completed required inspections related to the electrical safeguards of bonding and grounding where the wings join the fuselage on some aircraft.
The agency is also investigating whether Boeing employees falsified aircraft inspection records.
According to a Seattle Times report, Scott Stocker, 787 vice president and general manager at Boeing's assembly plant in North Charleston, S.C., sent a message to all employees on April 29 that a Boeing employee had recognized the issue and spoke up about it internally. Boeing then notified the FAA.
"The FAA is investigating whether Boeing completed the inspections and whether company employees may have falsified aircraft records," the FAA said.
BA Price Action: According to Benzinga Pro, Boeing shares are down 1.46% at $177.18 at the time of publication Monday.