Yahoo Finance NewsBreak: Report Says Boeing Employees Misled FAA About 737 Max
Investing.com – Boeing (NYSE:BA) shares were off more than 4% after a Reuters report said company employees may have misled the Federal Aviation Administration about a key safety system on the grounded 737 MAX.
New emails show that Boeing's then chief test pilot working on the plane complained in 2016 messages to another pilot that a new flight control system known as MCAS was causing problems in flight simulations, Reuters said. But the pilot did not tell government regulators certifying the plane. He added he "basically lied" to the FAA although unknowingly,
The emails were turned over to lawmakers in the last day. CEO Dennis Muilenburg will testify about the 737 MAX issues later this month.
The 737 Max was grounded earlier this year after crashing twice in five months, killing 346 people.
The 4.2% loss on Boeing (NYSE:BA) shares subtracted more than 105 points from the Dow, which was down 176 points, or 0.7%, on the day.
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