The 777X unveiled in 2013, has been plagued by delays and setbacks, pushing its expected service entry from 2020 to 2025. The latest hiccup involves the 777-9 model, one of the new variants in the 777X family, which had just received approval from the U.S. Federal Aviation Administration (FAA) to conduct flight tests last month. FAA representatives were on board during these tests, highlighting the scrutiny Boeing faces as it tries to navigate its way through a year marked by a series of crises.
This latest issue adds to Boeing’s growing list of challenges in 2024. The company’s stock has plunged 31.6% since January, reflecting investor unease. Just this week, the FAA ordered Boeing to inspect its 787 Dreamliner aircraft following a March incident where a Latin American Airlines plane swerved mid-air, injuring over 50 passengers.
The turbulence began early in the year when a part of an Alaska Airlines Boeing 737 Max 9 broke away on January 5, triggering an investigation into the company’s safety protocols. This incident, coupled with Boeing’s guilty plea last month to fraud charges related to the tragic 737 Max crashes in 2018 and 2019, has only deepened concerns.
Financially, Boeing is also feeling the pressure. The company reported a net loss of $1.44 billion in the second quarter of 2024, a sharp increase from the $149 million loss during the same period last year, driven by rising costs and dwindling commercial aircraft production.
With over 500 orders for the 777X, Boeing is racing against the clock to ensure this new model doesn’t become another black mark in its already turbulent year.
