Saturday, November 27, 2021
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Boeing shares plunges around 14 percent in two days

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Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com

After the crash of a passenger plane in Ethiopia with 157 fatalities, the relatively new aircraft type, Boeing 737 MAX 8 remain in several countries on the ground. This is bad news for the Boeing Group. Investors in Dow jones Industrial (DJIA) are reacting accordingly.

On the stock exchange, the news triggered a price slide at Boeing. The listing declined around 7% to $370.73, it plunged 14 % in two days, after having increased almost one-third since the beginning of the year.

Trimmed for less fuel consumption, the Boeing 737 Max range is considered a bestseller. The model is remake of the Boeing 737, built since the 1960s, and is being delivered in the new form with larger and more fuel-efficient engines since 2017.

Last year, Boeing had achieved a record $ 10.5 billion in sales of $ 101 billion. In 2018, more than 70 percent of the 806 aircraft delivered were variants of the Model 737. The new model Max with more fuel-efficient engines competes with Airbus most successful model A320neo.

 

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