Airline stocks pared their early losses Monday, as Boeing Co. shares rebounded from their worst levels, after a deadly crash involving the aerospace giant’s 737 Max 8 aircraft in Ethiopia, the second fatal accident involving the aircraft in six months.
Boeing said it was “deeply saddened to learn of the passing of the passengers and crew” on the Ethiopian Airlines airplane. In a statement posted on its website, the company said it is planning to send a technical team to the crash site to help Ethiopian and U.S. investigators.“We are in contact with the State Department and plan to join the NTSB in its assistance with Ethiopian civil aviation authorities to investigate the crash,” the FAA said in a statement.
Southwest shares fell 1.6%, even as the carrier expressed confidence in its Boeing aircraft and said it has no plan to change operations. It also told customers that if they changed flight plans to avoid flying on 737 Max planes, they would be responsible for any fare differences.