Transport

Boeing shares down 10 pct after second 737 MAX crash

(BOEING) – Shares of Boeing slid ten percent on Monday (March 11) after China, Indonesia and Ethiopia ordered airlines to ground their Boeing 737 MAX 8 planes following the second deadly crash involving the jet in just five months.

The losses put the stock on course for its biggest daily fall in nearly two decades, halting a surge that has seen Boeing’s market value triple in just over three years to a record high of $446 per share.

Spreads on Boeing’s bonds were also wider in relatively light trading on Monday morning, according to capital markets publication IFR.

A Nairobi-bound Boeing 737 MAX 8 operated by Ethiopian Airlines crashed minutes after takeoff from Addis Ababa on Sunday, killing all 157 on board. The same model, flown by Lion Air, crashed off the coast of Indonesia in October, killing all 189 on board.


Associated Links

  • Boeing
  • Lion Mentari
  • Ethiopian
  • Airlines
  • Aviation
  • SkyTeam
  • Association of Asia Pacific Airlines
  • Star Alliance
  • Boeing 737 MAX
  • Boeing
  • China Airlines
  • Pakistan International Airlines
  • All Nippon Airways
  • Alaska Airlines

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