general

Boeing CEO poised to pitch 737 Max comeback to shareholders

Dennis Muilenburg is used to presiding over sleepy annual meetings as CEO of Boeing, basking in the glow of a soaring share price. This year, the aerospace giant’s CEO can expect a grilling from investors and reporters. Outside the Chicago gathering, protesters are expected to rebuke the company for a safety crisis that has engulfed the best-selling jet of the world’s largest planemaker. The questions may sharpen following a report of four calls to a whistle-blower hotline at the Federal Aviation Administration the day after the Ethiopia crash. The calls, CNN reported Saturday, were from current and former Boeing employees concerned about the sensor that measures the plane’s angle while flying. At least one complaint alleged damage to the vane’s wiring by a “foreign object,” CNN reported. A malfunction of the Max’s sensor has been cited in a preliminary report on the crash by Ethiopian investigators. Boeing didn’t tell Southwest when the carrier began flying 737 Max jets in 2017 that a standard safety feature had been deactivated, the Wall Street Journal reported Sunday, citing unidentified people familiar with the matter. After the October 2018 crash of a 737 Max operated by Indonesia’s Lion Air, Southwest asked Boeing to reactivate alerts on planes in its fleet and mid-level FAA officials briefly considered grounding Southwest’s Max aircraft, the Journal reported. Now stock buybacks are on hold and executives are struggling to salvage Boeing’s reputation and public confidence in the 737 program, the company’s main source of profit.<br/>