In another major setback for aerospace major Boeing (NYSE:BA), an Atlas Air Boeing 747-8 cargo aircraft with five crew members on board made an emergency landing at Miami International Airport (MIA) shortly after departure. The plane suffered an engine malfunction shortly after taking off.
According to a Reuters report, unverified videos on social media showed flames from the left wing of an aircraft in flight. According to the airport, there were no reported injuries. Atlas Air commented on the incident, “The crew followed all standard procedures and safely returned to MIA.”
The airline stated that it would investigate the cause of the accident, and the U.S. Federal Aviation Administration (FAA) also indicated a thorough investigation of the incident.
This news comes just days after a Boeing 737 Max 9 plane made an emergency landing following a door panel blowout. This incident resulted in the FAA grounding Boeing jets for safety checks.
Is BA a Good Buy Right Now?
Analysts remain bullish about BA stock even after the recent incidents, with a Strong Buy consensus rating based on 18 Buys and five Holds. Over the past five trading sessions, BA stock has declined by more than 4%. The average BA price target of $267.84 implies an upside potential of 27.7% at current levels.
