Another Boeing 737 crash today... According to registration details, the plane is a 26-year-old Boeing 737-500. Lots of air accidents in Indonesia... and lots of crashes involving the 737.The more that I hear and read about these two accidents are concerning. It's concerning for me who often fly on a Boeing product. It's concerning me as a Boeing shareholder looking at my Proxy Card for the Annual Meeting and wondering if it's time to register a vote of "no confidence" in Management.
Company's financials look good, but what is the corporate culture? Is there some regulatory "coziness" between the Company and the FAA that is a contributing factor? Is trying to rush the development and deployment of an aircraft that competes with a similar Airbus aircraft a contributing factor?
According to the news article... "
The Sriwijaya Air 737 was 26 years old. While airlines do tend to prefer to fly newer aircraft - because they have lower running costs - it is not uncommon to find planes of this age still in service. Indonesia, though, has a relatively poor record on aviation safety. For more than a decade carriers from the region were banned from flying into the EU. Until recently, the perception had been that standards were improving, and in 2018 all Indonesian airlines were removed from the EU's blacklist."