Thursday, January 21, 2021

Boeing shares plunges around 14 percent in two days

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Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

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.

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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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Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]
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