Bloomberg points out that the Boeing Co. (NYSE: BA) Dreamliner 787 may not be back in service as fast as the press and many airlines expect. The sticking point is that American regulators worry about making a mistake that will haunt them and cause a wrathful reaction from Congress.
The news service reports:
The Federal Aviation Administration is under scrutiny for clearing the 787 in 2007, only to reverse itself after lithium-ion batteries overheated on two jets. Transportation Secretary Ray LaHood, whose agency includes the FAA, declared the planes safe days before they were ordered parked. FAA officials will face the National Transportation Safety Board this month to explain their initial decision.
Boeing needs the FAA to end a Jan. 16 grounding order so deliveries can resume from an order book valued at almost $190 billion. Politics, not just safety, will weigh on the agency as it reviews the Dreamliner’s battery redesign and test-flight data, said John McGraw, an aerospace consultant.
Find a Qualified Financial Advisor (Sponsor)
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.