Boeing's market value plummets by almost $30 billion as U.S., other countries ban the Max 8

The Max 8 is Boeing's "cash cow," said one aviation consultant. "It’s a big deal financially. It’s also a big deal reputationally."

On Wednesday, Canada announced it had grounded the Max 8 plane and barred it from the country's airspace, citing"new data" and a"possible similarity" toBoeing also postponed the rollout of its new long-haul 777X jet, which had been scheduled for Wednesday. Commercial aircraft make up about 60 percent of Boeing’s sales, according to Sheila Kahyaoglu, aerospace and defense analyst at Jefferies, an investment bank based in New York. The 737 line alone is responsible for about 25 percent of total sales, Kahyaoglu toldAlthough investigators announced that they had recovered the flight’s voice recorder and data recorder, the reason behind the crash was still unknown as of Wednesday.

While implementing these fixes, and compensating airlines for the costs incurred with grounding the Max until that occurred, would be expensive — and detrimental to its stock in the short term — Boeing’s sheer size would help it recover.

Is this article from Monday? Shares didn’t drop sharp today.

After the announcement, Trump’s Broker bought thousands of Boeing shares. Just a guess, but I wouldn’t put it pass him.

The FAA ordered the grounding. Trump announced it to feed his ego.

I would like to see if anyone in the Trump administration, friends, Business associates or F.A.A.divested themselves of Boeing stock before his announcement was made.

Trying to blame POTUS instead of FAA, who has the real decision on this but failed to do so is BS, If you want to blame anyone blame the FAA. This move should have been done the same time every other country did it. The FAA & the airline industry failed the US flying public.

These kind of monopoly companies should be under strict drug testing. requirements. Strict aluminium and steel gauge requirements!

Perhaps you should actually look at the stock price - it's back up to what it was this morning. People bought the dip.

Now he will buy Boeing stock....!

We don’t trust Boeing or Gov to do the right thing anymore unfortunately.

Just heard members from the FAA & NTSB are on the ground in Ethiopia to help w the investigation. Whataya wanna bet they DIDN’T fly “the MAX” to get there! 🤔

One million shorting stock traders just made a fortune.

Boeing BoeingAirplanes 157 ppl would still be alive if 787max was grounded after the Lion air crash w the same model-greed and profits were first. The flying public doesn’t trust Boeing BoeingAirplanes now

Time to buy

Bummer. All because they didn't get the memo overseas about the error.

FlorrPineiro

Safety before profit

His friends are going to buy stocks now and cash in when Trump changes his mind.

Good realDonaldTrump

There must be nose-dive logic built in to the stock price.

Ahh... now the delay makes sense!!

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Boeing shares set to shed $33 billion in market value this week as President Trump grounds 737 Max jets*bn billion. :-O That’s it?!! The company should be bankrupt!
Source: MarketWatch - 🏆 3. / 97 Read more »

Southwest says it remains 'confident' in its fleet of Boeing planes after Ethiopia crashSouthwest Airlines Co. expressed confidence in its Boeing Co. aircraft and said has no plans to change operations in the wake of a deadly crash involving a 737 Max 8 aircraft in Ethiopia. But shares of the airline fell over 3% in premarket trading, alongside a nearly 9% drop in Boeing shares. "As Southwest operates a fleet of 34 Boeing 737 MAX 8 aircraft, we have been in contact with Boeing and will continue to stay close to the investigation as it progresses," said a spokesman for the company. Ethiopian Airlines Flight 302 crashed shortly after takeoff from the capitol of Addis Ababa, killing all 157 people on board. It's the second deadly accident involving Boeing's popular 737 Max 8 in six months, with the last occurring in October when an Indonesia Lion Air jet crashed into the sea, killing all 189 on board. China's civilian aviation authority has ordered all airlines to ground those Max 8 planes, while Ethiopian Airlines has grounded its entire fleet of those planes. "We don't have any changes planned to our operational policies or procedures," said the Southwest spokesman. Losses for Boeing drove a 170-point drop in Dow futures. Boeing needs to ground all these new 737's immediately Caution is warranted pending the investigation and review of the facts at hand. Dont be a hero
Source: MarketWatch - 🏆 3. / 97 Read more »