Feds Defend Dreamliner Despite Safety Review

FAA & DOT Declare Dreamliner is Safe
FAA & DOT Declare Dreamliner is Safe

Even as the federal government was announcing a new reliability review of Boeing's new 787, the Secretary of Transportation was defending the safety of the Dreamliner.

"I believe this plane is safe," Ray LaHood said. "I would have no reservations in taking a flight on this plane."

Michael Huerta, the administrator of the FAA was equally emphatic in his support of the Dreamliner. "Nothing in the data shows us this plane is not safe," he said.

The top regulators of transportation in America endorsed Boeing and the safety of its newest plane even as they committed to finding out why the Dreamliner has run into problems with its electronics and power system. (Read More: Boeing Confident About 787 Despite 'Teething Problems'.)

FAA and Boeing working together

NTSB Investigator Mike Bauer inside the Boeing 787 under investigation at Boston's Logan Airport.

The FAA review of the 787 Dreamliner will involve the federal government working with Boeing and its suppliers.

The focus will be on the design and operation of electronics in the 787, specifically the use of lithium ion batteries. It was a lithium ion battery in the auxiliary power unit that caught fire on a Dreamliner parked at Boston's Logan Airport. (Read More: Boeing Traces Source of Dreamliner Fire; Another 787 Has Problems.)

Ray Conner, CEO of Boeing Commercial Airplanes, said the initial results from airlines flying the Dreamliner show the plane is performing as promised when the FAA certified it.

"The process does not stop with just certification," Conner said. "As with every airplane program, we have continued to work together on a daily basis to ask all the right questions and address all the right issues."

Still, the fact a senior executive from Boeing flew to Washington, D.C. to acknowledge the FAA review symbolized that this is a significant increase in the scrutiny of the Dreamliner. (Read More: Dreamliner Glitches: How Serious Are the Problems?)

A Boeing 787 Dreamliner operated by United Airlines takes off at LAX
Getty Images

The FAA says there is no timeline for how long it will take to complete the review or if it will lead to any changes in the design or production of the 787. While this takes place, 50 Dreamliners have been delivered to airlines with more than 150 Dreamliner flights every day around the world.

More Problems, Shares under pressure

Overnight in Japan two more Dreamliners experienced problems. One All Nippon Airways (ANA) 787 had an oil leak while a different ANA Dreamliner suffered a cracked windshield.

The problems generated headlines, but a spokesperson for ANA told CNBC the cracked windshield is not a major concern.

"Cracks appear a few times every year in other planes as well and we do not see this as a sign of a fundamental problem with the aircraft. We are confident of the safety of the Dreamliner and currently have no plan to conduct any actions to our remaining 787s," said Megumi Tezuka, spokesperson for All Nippon Airways.

Airline analysts told CNBC Friday that the Federal Aviation Administration's planned review of Boeing's 787 Dreamliner is certainly not routine, the issues with the new jet are not life-threatening at this point. (Read More: Dreamliner Unlikely to Be Grounded, Analysts Tell CNBC.)

"This has to be put into context," Carter Copeland of Barclays Capital said in a "Squawk Box" interview. "The 787 has had significantly fewer in-flight diversion, significantly fewer shutdowns than we saw with the 777 in the mid-90s."

—By CNBC's Phil LeBeau; Follow him on Twitter @LeBeauCarNews