This is the second deadly crash of this passenger jet in just five months
Shares of Boeing Co slid almost 10 per cent in early trading on Monday after some airlines grounded the world’s biggest planemaker’s new 737 MAX 8 passenger jet following the second deadly crash in just five months.
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, 18 of them Canadians. The same model, flown by Lion Air, crashed off the coast of Indonesia in October, killing all 189 on board.China’s aviation regulator on Monday grounded nearly 100 Boeing 737 MAX 8 aircraft operated by its airlines after the crash. The CAA said it would contact the U.S.
He said he was not changing the bank’s positive “overweight” recommendation on Boeing shares for its customers, and that any corrective action the company has to take on its best-selling passenger plane will likely prove a longer-term buying opportunity.Boeing’s shares lost 12 per cent in the weeks following the Lion Air crash last year, but have more than recouped those declines. They traded down 9 per cent at US$384.51 by 0600 a.m. ET.
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