Why Boeing and a Key Supplier Are Losing Altitude Today
's (NYSE: BA) 737 MAX is making headlines again for all the wrong reasons, and investors are heading for the exits as a result. Shares of Boeing opened down about 9% Monday after a frightening weekend incident that has left part of the MAX fleet grounded.
Boeing's 737 MAX was once expected to be the top-selling airframe of all time, a modernized version of the company's single-aisle workhorse that offered more seating flexibility and better fuel economy. But the MAX has had its share of troubles, most notably a pair of fatal accidents that led to an 18-month grounding beginning in 2019.
Over the weekend, an Alaska Air Group MAX 9 variant of the 737 experienced an in-flight depressurization issue shortly after takeoff when a panel that plugs an emergency exit ripped away at 16,000 feet. The Federal Aviation Administration (FAA) responded Saturday by ordering airlines to ground about 171 MAX 9 planes for inspection.
Source Fool.com
Boeing Co. Stock
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