Boeing Shares Down After Groundings Of Jets

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Boeing Shares Down After Groundings Of Jets

Boeing Shares Down By 8% After Groundings Of Max 9

Boeing is back under the radar again, losing 8% of its value during Monday's session. The sudden drop in the Boeing shares came after the US Aviation Authority grounded a couple of MAX 9 Jets.

It all started on Friday when a jet from Alaska Airlines witnessed a significant problem. A part of the aircraft tore off mid-flight, forcing the pilots to get the plane on the ground again.

Boeing Market Share Continues To Decline

Boeing is a major name in the aircraft manufacturers and also competes with the Airbus company. It looks like the market value of Airbus continues to rise in comparison to Boeing. From the plane crashes of 2018 & 2019 to the recent incident of 2024, the reputation of Boeing has been put at stake.

While the Boeing shares are on the back foot, the shares of Airbus have registered a +1% gain during the same period. According to the company, they delivered 735 jets in 2023 and have beaten Boeing in numbers.

If we look at the numbers, it becomes clear that the Boeing company is now sitting at the #5th spot of the plane makers.

Boeing is not alone, as its customers & and suppliers are also experiencing a bad day on the stock market. Shares of Spirit Aero and Alaska Air experienced a 15.9% and a 5% downside during the same day.

According to one expert, the latest incident shows that the Boeing jet's installation & and manufacturing process needs to undergo regulatory checks.

Even a small failure can lead to fatal consequences for the passengers, so such problems can't be ignored anymore. Many Boeing may even reconsider their decision to go with the problematic planes.

According to Boeing, they will host a webcast to share their response to the incident. They also added that they will discuss the safety measures of the MAX 9 jets.

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