Engine failure brings more turbulence for Boeing
Boeing is facing more trouble after one of its 777 aircraft was forced to make an emergency landing when an engine burst into flames.
 
 
Only a few weeks after the 737 MAX jet was finally cleared to resume flying after an hiatus of almost two years, prompted by safety concerns, Boeing is facing another “public-relations nightmare”, says Alan Tovey in The Daily Telegraph. The latest incident comes after one of its Boeing 777 jets was forced to make an emergency landing when an engine burst into flames, leading to “debris being scattered far and wide on the ground”. Regulators have insisted that all 128 of the 777s with the type of engine that failed be temporarily grounded and inspected.
Don’t panic, says Jon Sindreu in The Wall Street Journal. While this is “more unwelcome publicity” for an “already battered US aerospace industry”, it isn’t “another 737 MAX debacle”. The problem is likely to affect “only a small subset of the global fleet”. Only 8.3% of Boeing 777s use the engine in question, which is made by Pratt & Whitney (part of Raytheon). And the affected 777s are the kind of “big, old jets” that airlines have kept in storage in the pandemic, with less than half of them in use.
While the latest problems are unlikely to prove a threat to Boeing’s survival, they are still a “distraction” at a time when the sector is being “crushed” by Covid-19, says Lauren Silva Laughlin on Breakingviews.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
 
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The problems underline how the attempt to copy General Electric’s focus on short-term financial performance has hampered its long-term prospects. The strategy drove its stock price to new highs under previous CEO Dennis Muilenburg, but these gains have since been wiped out.
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.

Matthew graduated from the University of Durham in 2004; he then gained an MSc, followed by a PhD at the London School of Economics.
He has previously written for a wide range of publications, including the Guardian and the Economist, and also helped to run a newsletter on terrorism. He has spent time at Lehman Brothers, Citigroup and the consultancy Lombard Street Research.
Matthew is the author of Superinvestors: Lessons from the greatest investors in history, published by Harriman House, which has been translated into several languages. His second book, Investing Explained: The Accessible Guide to Building an Investment Portfolio, is published by Kogan Page.
As senior writer, he writes the shares and politics & economics pages, as well as weekly Blowing It and Great Frauds in History columns He also writes a fortnightly reviews page and trading tips, as well as regular cover stories and multi-page investment focus features.
Follow Matthew on Twitter: @DrMatthewPartri
- 
 1.9 million owed £240 million in unclaimed energy credit – are you due a payout? 1.9 million owed £240 million in unclaimed energy credit – are you due a payout?Energy regulator Ofgem is urging home movers to check if they’ve got credit stuck in old accounts 
- 
 More pensioners dragged into 60% tax trap – could you be caught? More pensioners dragged into 60% tax trap – could you be caught?Frozen thresholds are pushing more older workers into paying income tax at levels much higher than the headline rate, new figures show. We look at why and how you can avoid being caught in the 60% tax trap. 
- 
 Yoshiaki Murakami: Japan’s original corporate raider Yoshiaki Murakami: Japan’s original corporate raiderThe originator of Japanese activism, Yoshiaki Murakami, was disgraced by an insider-trading scandal in 2006. Now, he's back, shaking things up 
- 
 Cash in on the vast growth potential of the companies electrifying the world Cash in on the vast growth potential of the companies electrifying the worldOpinion Martin Todd, portfolio manager, head of sustainable equities, Federated Hermes, highlights three electrification companies where he'd put his money 
- 
 Galliford Try has firm foundations for strong growth Galliford Try has firm foundations for strong growthBuilder Galliford Try has a finger in a wide range of pies, notably important work in the public sector 
- 
 Card Factory is a stand-out small-cap going cheap Card Factory is a stand-out small-cap going cheapIn a digital world, we still value the personal touch. That’s good news for Card Factory, whose unique business model is suited to weather all economic storms 
- 
 8 of the best smallholdings for sale now 8 of the best smallholdings for sale nowThe best smallholdings for sale – from a medieval cross-passage farmhouse in Taunton, Somerset, to a former farmhouse with an orchard in the Welsh Marches 
- 
 How much gold does China have – and how to cash in How much gold does China have – and how to cash inChina's gold reserves are vastly understated, says Dominic Frisby. So hold gold, overbought or not 
- 
 How to invest in undervalued gold miners How to invest in undervalued gold minersThe surge in gold and other precious metals has transformed the economics of the companies that mine them. Investors should cash in, says Rupert Hargreaves 
- 
 Debasing Wall Street's new debasement trade idea Debasing Wall Street's new debasement trade ideaThe debasement trade is a catchy and plausible idea, but there’s no sign that markets are alarmed, says Cris Sholto Heaton