March 11, 2019 | Investopaper
The shares of Boeing fell by 9 percent on Monday after the crash of 737 MAX 8. The Jet operated by Ethiopian Airlines crashed on Sunday killing all 157 on board.
The shares price took a hit on Monday as many airlines grounded the jet after the second crash on Sunday. Earlier in October, the same model jet had crashed off the coast of Indonesia killing all 189 on board.
After the crash that occurred Sunday, Ethiopian Airlines grounded the 737 MAX 8 planes for safety precaution. Similarly, the Civil Aviation Administration (CAA) of China also grounded the same model jet after the crash until there is assurance for safety.
Following the news of grounding by several airlines, the Boeing shares plunged sharply on Monday.