Home » Business » Boeing 737 MAX 9 Incident Causes Stock Market Plunge and FAA Grounding

Boeing 737 MAX 9 Incident Causes Stock Market Plunge and FAA Grounding

Jan 9, 2024 at 8:22 AM Update: an hour ago

Boeing lost heavily on the American stock market on Monday. The incident involving a Boeing 737 MAX 9 last Friday is causing unrest among investors.

An Alaska Airlines passenger plane was en route to the US state of California on Friday, but had to make an emergency landing just minutes after take-off. There was a hole in the cabin.

The American aviation authority FAA ordered 171 Boeings with the same door panel to be grounded. Although European airlines can continue to use their Boeing aircraft, the FAA’s decision will ground many aircraft.

Shortly after the opening of the stock exchange, Boeing’s share was worth 10 percent less. The share then recovered, but the aircraft maker still ended 8 percent lower.

It is not the first time that Boeing’s 737 MAX aircraft have not been allowed to fly. In 2019, the same aircraft were grounded for a year and a half after two planes crashed. After adjustments, the MAX could be put back into use.

Image: Getty

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2024-01-09 09:19:07
#Boeing #falls #stock #market #incident #Alaska #Airlines #plane #Economy

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