On March 11, Boeing (BOE.L) stock price fell nearly 9% before the market. On March 10, local time, an Ethiopian Airlines Boeing 737-MAX 8 passenger plane crashed, killing all 157 people on board.
This time is the second serious air crash in Boeing 737-MAX 8 in less than half a year. In October 2018, a similar aircraft of Indonesia Lion Airlines crashed after taking off, killing 189 people.
At 9:50 am on March 11, the Civil Aviation Administration of China issued a notice on its official website stating that in view of the fact that both air crashes were newly delivered Boeing 737-8 aircraft, and both occurred in the takeoff stage, they have certain similarities. In line with the principle of zero tolerance for safety hazards and strict control of safety risks, in order to ensure the safety of China's civil aviation flight, domestic transportation airlines are required to suspend the commercial operation of Boeing 737-8 aircraft before 18:00 on March 11, 2019.
China Civil Aviation Administration will contact FAA and Boeing. After confirming that relevant measures are available to effectively ensure flight safety are provided, it will notify all transport airlines to resume the commercial operation of Boeing 737-8 aircraft.
According to the data of the Civil Aviation Resource Network, as of now, domestic airlines operate a total of 96 737 MAX 8 models, namely 24 China Southern Airlines, 15 Air China, 11 HNA, 11 Shanghai Airlines, 10 Xiamen Airlines, 7 Shanhang Airlines, 5 Shenzhen Airlines, 3 China Eastern Airlines and Xiangpeng, 2 each of Okai, Fuzhou and Kunming, and 1 each of Jiuyuan.
In response to the EgyptAir crash, Boeing responded to the reporter of The Paper on the afternoon of March 11, saying, "Safety is the top priority of our work. We are taking various measures to fully understand all aspects of the accident and work closely with the investigation team and all relevant regulatory agencies."
Boeing said that the investigation is still in its early stages, but at this moment, based on the information available, we have no basis to issue new notices to users.
Since 2019, Boeing's stock price has risen by nearly 32%, ranking first among all Dow Jones Industrial Average. As of March 8, Boeing closed at $422.54.
