BA Sep 2024 175.000 put

Boeing still has a 'long way to go': Sec. Buttigieg

Boeing (BA) is facing a host of issues, from the Federal Aviation Administration's (FAA) probe of the company's 787 Dreamliner inspections to the Alaska Airlines (ALK) mid-flight door blowout. US ​​Secretary of Transportation Pete Buttigieg talks to Yahoo Finance's Brian Sozzi about how the Department of Transportation is looking at the company. "The good news is that there has been a lot of engagement. They've taken a number of steps in response to the pressure that the FAA is putting on them, but there's still a long way to go," Sec. Buttigieg says. The FAA is barring Boeing from increasing its production rate until the company has proven that it can address the mounting safety concerns. "At the end of the day, it's all about the results. They're saying the right things, they're taking encouraging steps, but we need to make sure that we see it on the shop floor, that we see it in terms of the quality of the product that rolls off the line," he adds. On whether Americans can trust Boeing, Sec. Buttigieg says, "Look, I'm on a Boeing airplane every few days... so this is personal to me as well as something I care about as a policymaker. And bottom line is the FAA is not going to allow anything to go forward that they're not satisfied is safe." For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Melanie Riehl