Shares of Boeing (BA) have declined over 30% in 2024 as the company has experienced a tumultuous few months, starting with a midair incident aboard a Boeing 737 MAX. The event provoked a Federal Aviation Administration (FAA) audit, which revealed multiple failures to comply with manufacturing quality control requirements.
Boyd Group International President Mike Boyd joins Yahoo Finance to discuss how Boeing will fare in competition with Airbus (AIR.PA) and what the acquisition of Spirit Aerosystems will mean for the manufacturer.
Boyd outlines key priorities for Boeing's new leadership: "The day one priority has to clean upwhat's gone on in manufacturing. Look, as I pointed out, in an airline, if you fix an airplane, the mechanic has to fix it. You have to know who it is. He signs off...Then an inspector comes in and signs off. What we found out now is that is not what Boeing was doing. They can't tell you who worked on that airplane that Alaska (ALK) had the problem with. That is outrageous. An airline would get shut down for that. So what we have to have is now some really strong oversight, and the people at the top have to be held accountable."
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