United Kingdom
United States
Asia Pacific
Boeing share price takes a hit amid possible SEC probe
Wednesday, 12 Feb, 2016
0
Plane maker Boeing’s share price nosedived Thursday after a report surfaced of possible accounting irregularities.
Bloomberg reported the US Securities and Exchange Commission is looking closely at its cost and sales projections of its 787 Dreamliner and the 747 jet programs.
Known as program accounting, Boeing allegedly hid unrecoverable costs for the 787 and the 747 programs, after a whistleblower provided the SEC with documents, Bloomberg said.
Program accounting allows Boeing to spread upfront costs of manufacturing planes over many years.
After news broke Boeing shares initially plunged more than 10%, wiping billions off its value.
"We typically do not comment on media inquiries of this nature," said Boeing spokesman Chaz Bickers while SEC spokesman John Nester declined to comment to Bloomberg.
The SEC has yet to decide whether to bring a case against Boeing, Bloomberg reported, citing people familiar with the matter.
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
Exploring Brooklands Museum with Alex Patterson
Global Tourism Challenges and Upcoming Events: A Conversation with Don Welsh
Peebles Barbeque: A Legacy of Flavor and Tradition
Exploring Bok Tower Gardens with Erica Smith
Rue’s Living Water Boat Cruises: Exploring Winter Haven’s Chain of Lakes
Durango and Silverton Railroad: A Timeless Journey Through History and Scenic Beauty
Walt Leger on New Orleans’ Resilience and Major Events Ahead
Cindy Mackin Shares Estes Park’s Winter Thrills
Mark Jaronski of Explore Georgia on FIFA World Cup 2026
Connecting Small Businesses to Global Tourism Markets: Nate Huff of Tourism Exchange
North Carolina’s Resilience: Wit Tuttell on Recovery and Tourism
Kittipong Prapattong’s Plan for Thailand’s Tourism Growth: Taxes, Visas, and Campaigns
Qatar Airways adding Manchester flights
EU entry-exit system delayed again
ATC strike in Greece could disrupt flights this week
Jet2 unveils Samos as new Greek destination for summer 2026
Icelandair launches inaugural flight to Nashville