Boeing 737 Max 8 aircraft grounded by several countries after Ethiopian Airlines Flight ET302 crash
The Boeing 737 Max 8 jet that crashed killing 157 people on board Ethiopian Airlines Flight ET302 may put the company in a financial bind.
In December 2018, the 737 Max jets surpassed 5,000 net orders with 181 new sales.
“5,000 on order, that’s going to change rapidly,” Airline Weekly editor Seth Kaplan said on FOX Business’ “Varney & Co.” on Monday.
Boeing was a major drag on the Dow Jones Industrial Average shaving more than 200 points as several countries including China, Indonesia, and Ethiopia have grounded the 737 Max 8.
Kaplan said there aren’t any policies in place from the airlines to reassure fliers.
“I think we’re going to see some flexibility here from the airlines,” he said. “At this point, airlines in the U.S. have said thus fare that if we’re flying the plane we are comfortable with the idea that it is safe.”
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BA | THE BOEING CO. | 153.10 | +3.81 | +2.55% |
Kaplan remains optimistic about finding a conclusion as to why the Boeing 737 Max 8 crashed in Ethopia on Sunday.
“We’re going to find out what happened here. What indeed are the connections? It sort of broadly has some similarities to what happened months ago, but it’s way too early to say there is indeed a connection,” he said.
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Authorities have reportedly recovered the black box which will aid in the discovery of what caused the disaster.
Boeing's stock fell more than 5 percent to $400.01 by the end of the trading day.