Southwest Airlines stock dropped sharply in the moments after President Donald Trump said the U.S. would be grounding Boeing’s latest 737 Max models.
Southwest shares are still down 2.4% since an Ethiopian Airlines 737 Max 8 crashed over the weekend, causing countries around the globe to ground the Boeing model. The single-aircraft strategy carries risks, though, and Southwest, has warned about the impact of an event just like this in its annual report. Here’s an excerpt from the company’s risk-factor section:
737 program director should be fired and his retirement benefits taken away. This appears to be an industrial scale sabotage, possibly by China. They are preparing C919 as a replacement for 737 with the assistance from FAA and the US taxpayers.