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Boeing Embarks on Industry-Wide Safety Initiative For New Covid-19 Era
American aircraft manufacturer Boeing (BA) has appointed Mike Delaney, VP Digital Transformation, to develop health-safety policies and procedures for passenger aircraft in the new Covid-19 era.
While eager to resume commercial flights, airlines are planning to implement far more intensive in-cabin sanitation programs once governments begin easing travel restrictions.
On Thursday, Boeing appointed Delaney to head its Confident Travel Initiative, which is meant to work with airlines, global regulators, passenger groups, infectious disease experts and behavioral specialists to create industry-wide safety recommendations. The team will also study whether current disinfectants and sanitizers are safe to use on aircraft flight decks and cabins.
Boeing is looking to enhance its existing aircraft air filtration systems, which it said are already equivalent to those used in hospitals and industrial clean rooms in terms of their efficacy in removing viruses, bacteria and fungi from the air before it’s recirculated throughout the cabin.
In addition, Boeing will dedicate research toward developing new in-cabin air and surface disinfectant technologies, including ultraviolet light and anti-microbial coatings for “high-touch” surfaces.
Boeing has a major incentive to help customers fill seats as soon as possible because troubled airlines are deferring orders and won’t buy new airplanes until they are financially stable again.
Goldman analyst Noah Poponak recently wrote: “We continue to believe shares of [Boeing] are in the zone of trough on trough, with particularly low expectations in the marketplace.” Poponak believes Boeing is stabilizing its cash burn as well as its operating performance, and is confident that air travel will recover from its 2020 lows. In his note to clients, Poponak rated Boeing a Buy with a $209 price target.
Covid-19 has hit Boeing very hard, with shares down 65% over the last 3 months, and former CEO Dennis Muilunburg being terminated last December in favor of David Calhoun. Six Buys, 11 Holds, and 1 Sell rating give Boeing a Moderate Buy analyst consensus, with the average analyst price target reflecting 36% upside for Boeing shares. (See Boeing stock analysis on TipRanks).
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