Shares in Boeing fall sharply after President Trump orders the grounding of all 737 Max planes.
The Max 8 is Boeing's "cash cow," said one aviation consultant. "It’s a big deal financially. It’s also a big deal reputationally."
On Wednesday, Canada announced it had grounded the Max 8 plane and barred it from the country's airspace, citing"new data" and a"possible similarity" toBoeing also postponed the rollout of its new long-haul 777X jet, which had been scheduled for Wednesday. Commercial aircraft make up about 60 percent of Boeing’s sales, according to Sheila Kahyaoglu, aerospace and defense analyst at Jefferies, an investment bank based in New York. The 737 line alone is responsible for about 25 percent of total sales, Kahyaoglu toldAlthough investigators announced that they had recovered the flight’s voice recorder and data recorder, the reason behind the crash was still unknown as of Wednesday.
While implementing these fixes, and compensating airlines for the costs incurred with grounding the Max until that occurred, would be expensive — and detrimental to its stock in the short term — Boeing’s sheer size would help it recover.
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U.S. says Boeing 737 MAX 8 airworthy but says Boeing will make design changesThe United States told international carriers on Monday that the Boeing 737 MAX ...
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Canada joins Europe in banning Boeing Max 8, Max 9 aircraft from its airspace
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Trump says U.S. to ground Boeing 737 MAX 8s and MAX 9sU.S. President Donald Trump said on Wednesday that the United States was going to order the grounding of all Boeing Co 737 MAX 8 and MAX 9 aircraft after a crash in Ethiopia that killed 157 people after rising pressure from U.S. lawmakers and others to join regulators around the world. 'We are
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Boeing shares set to shed $33 billion in market value this week as President Trump grounds 737 Max jets
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Southwest says it remains 'confident' in its fleet of Boeing planes after Ethiopia crashSouthwest Airlines Co. expressed confidence in its Boeing Co. aircraft and said has no plans to change operations in the wake of a deadly crash involving a 737 Max 8 aircraft in Ethiopia. But shares of the airline fell over 3% in premarket trading, alongside a nearly 9% drop in Boeing shares. "As Southwest operates a fleet of 34 Boeing 737 MAX 8 aircraft, we have been in contact with Boeing and will continue to stay close to the investigation as it progresses," said a spokesman for the company. Ethiopian Airlines Flight 302 crashed shortly after takeoff from the capitol of Addis Ababa, killing all 157 people on board. It's the second deadly accident involving Boeing's popular 737 Max 8 in six months, with the last occurring in October when an Indonesia Lion Air jet crashed into the sea, killing all 189 on board. China's civilian aviation authority has ordered all airlines to ground those Max 8 planes, while Ethiopian Airlines has grounded its entire fleet of those planes. "We don't have any changes planned to our operational policies or procedures," said the Southwest spokesman. Losses for Boeing drove a 170-point drop in Dow futures.
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Boeing shares fall after second deadly 737 MAX 8 crashShares of Boeing Co slid 9 percent in early trading on Monday as many airlines g...
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Boeing shares fall sharply after second deadly 737 MAX 8 crashShares of Boeing sank as some airlines grounded the planemaker's best selling 737 MAX 8 passenger jet following the second deadly crash involving the plane.
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Boeing says has no new guidance for 737 MAX 8 operatorsBoeing said on Monday the investigation into the Ethiopian Airlines crash is in ...
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Airlines ground Boeing 737 MAX 8 planes after crash'Alarms should be and going off all through the aviation industry,' says transportation analyst MarySchiavo on the Ethiopia Airlines crash. She says the US should ground Boeing 737 MAX 8 planes for now. 'Everybody should... Boeing should take the lead.'
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