Boeing falls after telling FAA employees may have misled agency on 737 safety
The Federal Aviation Administration says that Boeing (BA) yesterday notified the agency of instant messages the company found months ago that suggest employees misled the agency about key safety system on the 737 Max, Bloomberg reports, citing an FAA statement. "Yesterday, Boeing alerted the Department of Transportation to the existence of instant messages between two Boeing employees, characterizing certain communications with the FAA during the original certification of the 737 MAX in 2016," the FAA said, according to Bloomberg. The agency added that the substance of document is "concerning" and that its "disappointed" Boeing didn't immediately bring it to agency's attention. Steve Dickson, Administrator of the FAA, told Boeing CEO Dennis Muilenburg in a letter, "I expect your explanation immediately" regarding the document and Boeing's delay in disclosing it, Bloomberg notes. Shares of Boeing are down 3%, or $11.95, to $357.15 in afternoon trading.