Boeing crisis serious threat to US economy: Expert
It could be extremely serious in terms of the loss at the market share and that could really hurt the US economy which is in very bad shape at the present moment." Bill Jones, Executive Intelligence ReviewAn expert says the recent problems with Boeing’s787 Dreamliner passenger planes will pose a serious threat to US economy and the company’s credibility worldwide, Press TV reports. “It is certainly going to be a problem for Boeing’s credibility in terms of the international market with all these planes taken out of operation,” said Bill Jones of the Executive Intelligence Review in Washington. The US Federal Aviation Administration (FAA) ordered American airliners on Wednesday to stop operating Boeing 787s, following an incident where one of the Dreamliner passenger aircraft made an emergency landing in Japan. Aviation authorities in Europe, Japan and India grounded the planes on Thursday while safety checks are being carried out on their lithium ion batteries.
Jones believes that if the American company does not resolve the problems quickly, it will suffer a serious economic blow and affect the US economy as a whole.“It could be extremely serious in terms of the loss at the market share and that could really hurt the US economy which is in very bad shape at the present moment,” he said. Jones noted that the aerospace and automobile industries are the backbone of US industrial economy and any problem with these fields can greatly affect the country’s economic situation. “More serious perhaps is the fact that the aerospace industry, with Boeing as an integral part, is one of the few remaining machine-building industries in the United States,” he said. Boeing 787 Dreamliner has been troubled by a series of bad news this week including fire on a flight, fuel leak, a brake computer fault and a cracked cockpit window, which could hit global confidence in the new aircraft. TE/JR