787 Dreamliner Problem Grounds 5 Polish Planes

Photo of Paul Ausick
By Paul Ausick Updated Published

787 With Mt Rainier in DistanceK65116

courtesy Boeing Co.
In what seems like a never-ending stream of problems with The Boeing Co.’s (NYSE: BA) 787 Dreamliner, Polish flag-carrier LOT Polish Airlines ASA said on Wednesday that it was forced to ground all five of its new Dreamliners after discovering that low-pressure fuel filters were not in place on the engines of two of the planes. The airline blamed Boeing for the problem in a statement issued earlier today. Both planes are now back in service.

Boeing officials are currently trying to soothe Norwegian Air Shuttle ASA executives in Oslo following a variety of problems that the Norwegian carrier had with its two Dreamliners. The airline is scheduled to purchase five more Dreamliners.

The Polish airline’s planes were grounded earlier this year due a battery malfunction on 787s that affected many carriers. The Polish government estimated that the grounding cost LOT more than $30 million and it is currently trying to get assistance from the U.S. ambassador to Poland in its negotiations for reimbursement from Boeing. Maybe the Boeing team can make a detour to Warsaw before returning to the U.S. LOT has taken delivery of five of the eight Dreamliners it has ordered.

Boeing’s shares are down fractionally in early afternoon trading, at $118.98 in a 52-week range of $69.18 to $120.38.

Photo of Paul Ausick
About the Author Paul Ausick →

Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

Continue Reading

Top Gaining Stocks

DELL Vol: 42,366,555
NTAP Vol: 15,911,807
NOW Vol: 68,243,561
IBM
IBM Vol: 28,527,546
HPE Vol: 86,996,387

Top Losing Stocks

CTRA Vol: 73,319,495
CLX Vol: 4,744,001
RMD Vol: 3,526,686
INTC Vol: 191,680,425
SWKS Vol: 5,407,806