Boeing (BA) shares slide following the Federal Aviation Administration's (FAA) grounding of 737 Max 9 jets. Bloomberg Intelligence Senior Aerospace/Defense & Airlines Analyst George Ferguson joins Yahoo Finance Live to weigh in on the financial and managerial impact of the recent Alaska Airlines incident.

“Management’s job is to come in now to train people to do it right the first time," Ferguson comments on job turnovers seen across Boeing and the aerospace industry.

Ferguson believes the Alaska Airlines incident could cost Boeing “probably $5 million-ish per day in remuneration” if the manufacturer is found liable for the flight mishap.

For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

Editor's note: This article was written by Eyek Ntekim.

Video Transcript

- And George, obviously we still need the results of that investigation before we can know a little bit more. But getting to the root cause here, do we anticipate, based on your experience in the industry, is this a management issue or is this about some of the talent turnover that we've seen coming out of the pandemic with just a dearth of talent in this industry. Which of those two do you think is, the more likely cause of what happened here.

GEORGE FERGUSON: So I'm going to say that I would think that every talent issue would still be a management issue, right? So it is a turnover issue. There's been a lot of turnover at Spirit, and a lot of turnover at Boeing. But management's job is to bring in those replacement workers, train them well, train them on the processes so they don't miss anything, train them on safety, and then oversee them on the line.

And if it's something that happened on the line and was overlooked, I'm going to say that's management's fault. Management needs to do a better job in that situation. So and I do think that's probably what happened here is that there's been a lot of turnover in these industries. Pre-pandemic, this airplane was grounded. So if you're at Spirit AeroSystems you're probably wondering what your long-term prospects were, as your most important airplane, the Max, wasn't even allowed to fly globally.

As that was getting fixed, we got into the pandemic, global airline traffic went to almost zero. So I think if you're at Boeing or Spirit, you might have been looking for another job, they've had a lot of turnover, management's job to come in now to train people to do it right the first time.

- And George, I'm also interested, listen, United Alaska they're going to be the most impacted by this Max 9 grounding. I'm interested George, can we try and quantify how much they're being impacted financially in terms of just lost profit?