XM does not provide services to residents of the United States of America.

US FAA opens new oversight review into Boeing safety practices



<html xmlns="http://www.w3.org/1999/xhtml"><head><title>UPDATE 1-US FAA opens new oversight review into Boeing safety practices</title></head><body>

Adds details, no immediate comment from Boeing in paragraphs 2-10

By David Shepardson

WASHINGTON, Oct 18 (Reuters) -The Federal Aviation Administration said on Friday it will open a new safety review into Boeing BA.N as the agency continues aggressive oversight of the U.S. planemaker after an in-flight emergency in January

The new review will probe issues like risk-assessment quality, resource allocation, and adherence to regulatory requirements, and is expected to take three months, the FAA said. An FAA spokesperson said the agency plans regular reviews of Boeing.

Last week, the Transportation Department's Office of Inspector General criticized the FAA's oversight of Boeing, saying the agency does not have an effective system to oversee the planemaker's individual manufacturing facilities.

Boeing did not immediately comment.

The FAA said Friday it was reviewing Boeing’s operational safety processes "to ensure they meet FAA requirements and result in timely, accurate safety-related information for FAA use" and said it was "part of our aggressive oversight to ensure Boeing has the right tools to sustain lasting changes to its safety culture."

An FAA audit of Boeing completed in February found 97 incidents of noncompliance, spanning "issues in Boeing’s manufacturing process control, parts handling and storage, and product control," according to a U.S. Senate report, adding that the FAA found 23 examples where employees "failed to follow processes or lacked proficiency."

FAA Administrator Mike Whitaker, who has regularly vowed to hold Boeing accountable for safety lapses, said last month safety culture improvements at Boeing may take three to five years to put in place.

The FAA's oversight of Boeing came under new scrutiny after a door plug missing key bolts blew off a new Alaska Airlines ALK.N 737 MAX 9 jet at 16,000 feet (4,880 meters) in January, prompting the Justice Department to open a criminal investigation and the FAA to open a separate probe.

A series of reports in recent years have raised concerns about the FAA's oversight of Boeing. Last month, a U.S. Senate panel investigating Boeing's culture faulted oversight by the agency.

Whitaker said last month he would revamp the FAA's own safety management program. He said in June the agency was "too hands-off" in oversight of Boeing before January.

The FAA chief took the unprecedented step in January of barring Boeing from expanding 737 MAX production until he is satisfied they have made significant quality improvements.



Reporting by David Shepardson, writing by David Ljunggren; Editing by Katharine Jackson and Jonathan Oatis

</body></html>

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.