Boeing Shares Fall 10% As Hundreds Of 737s Grounded Following 2nd Deadly Crash [zero hedge]
China Eastern Airlines Corporation Ltd. (CEA)
US:NYSE Investor Relations:
irasia.com/listco/hk/chinaeast/annual/index.htm
Company Research
Source: zero hedge
Boeing ADRs traded on Germany's Tradegate exchange in Stuttgart slumped more than 9% early Monday as Chinese and Ethiopian airlines grounded their fleets of Boeing 737 MAX 8s as experts question the plane's safety after an unprecedented series of crashes. Meanwhile, Boeing opened more than 10% lower in the US premarket, weighing heavily on Dow futures, which were off by triple digits.While some airlines opted not to ground their fleets following Sunday's devastating crash, where an Ethiopian Airlines flight dropped out of the sky six minutes after takeoff, killing everyone on board - including nearly 160 passengers and crew (including 8 Americans) - the fact that the Ethiopian Air crash happened so soon after a similar crash involving a 737 operated by Indonesia's Lion Air has raised questions about the model's safety.On Monday (local time, late Sunday in New York), China's Civil Aviation Administration of China said all Chinese airlines must suspend their use of the 737 MAX 8 by 10 a
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