Shares of Boeing Co slid 11 percent in early trading on Monday after China, Indo...
- Shares of Boeing Co slid 11 percent in early trading on Monday 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.
Boeing said on Monday the investigation into the Ethiopian Airlines crash is in its early stages and there is no need to issue new guidance to operators of its 737 MAX 8 aircraft based on the information it has so far.“Though it is early to draw conclusions, there may be concerns of disruption around safety, production, groundings, and/or costs, all of which should be manageable longer-term.”
Wall Street has been overwhelmingly bullish on Boeing - 19 of the 24 brokerages covering the stock rate it “buy” or higher, while five have a “hold” rating. Earlier in the day, China’s aviation regulator grounded nearly 100 Boeing 737 MAX 8 aircraft operated by its airlines after the crash.
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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 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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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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China and Indonesia halt Boeing 737 MAX 8 after Ethiopia crashChina, Indonesia and Ethiopia grounded their Boeing Co 737 MAX 8 fleets on Monda...
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Indonesia Follows China in Grounding Boeing 737 MAX 8 Jets After Fatal CrashIn a break with traditional air-safety practice, Indonesia joined China in grounding Boeing 737 MAX 8 aircraft following the deadly crash of an Ethiopian Airlines jet of the same type, sending Boeing shares down almost 9% in premarket trading.
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China and Indonesia ground all Boeing 737 MAX-8s after Ethiopia crashAfter the devastating Boeing 737 MAX-8 crash in Ethiopia this weekend, China has announced it will suspend the aircraft model in domestic flights until the FAA and Boeing can determine whether the aircraft was the reason for the crash or not.
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