Boeing shares tumble after panel blows out midflight, FAA grounds dozens of 737 Maxes
Publishing timestamp: 2024-01-08 12:23:52
Summary
The Federal Aviation Administration has grounded dozens of Boeing 737 Max 9 planes after a door plug blew out midair during an Alaska Airlines flight. This incident raises concerns about Boeing's quality assurances and comes at a time when the company is trying to increase production of the Max. Shares of Boeing tumbled as a result of the news, and other companies involved in the production of the 737 Max, such as Spirit AeroSystems, also saw their stock prices decline. The incident highlights the ongoing scrutiny of Boeing and its bestselling aircraft model since the fatal crashes in 2018 and 2019. The FAA has ordered urgent inspections of the affected planes, and Boeing has agreed with the decision. The article suggests that this incident may lead airlines to reconsider their future aircraft requirements, potentially benefiting Boeing's European rival Airbus.
Sentiment: NEGATIVE
Tickers: BA, UAL, SPR, AIR-FR, ALK,
Keywords: aerospace and defense industry, trade, business, alaska air group inc, travel, airbus se, business news, markets, breaking news: markets, spirit aerosystems holdings inc, politics, united airlines holdings inc, breaking news: business, airlines, boeing co,