The latest version of Boeing’s best selling 737 family had again been brought into the spotlight, after one of Boeing’s 737 Max 8 operated by Ethiopian Airlines had crashed minutes after takeoff from Addis Adaba, killing all 157 living souls on-board.
The same model of another Boeing Co. 737, run by Lion Air, had crushed last October off the coast of Indonesia, killing all 189 people on-board, triggering questions whether there had been a link or potential glitch involved on both of the air crushes.
None the less, multiple analysts had been quoted saying that it was too early to draw links between the incident of Ethiopia and Indonesia. Followed by Sunday’s (March 10th) deadly crush, Boeing did not immediately respond to questions regarding their operations of 737 MAX 8, although said in a statement that they would be sending a technical team to the crash site for providing assistance.
However, on Monday (March 11th) morning, Chinese aviation regulator decided to ground nearly 100 Boeing Co.
737 MAX 8 aircraft operated by its airlines. Following the last October’s Lion Air Crash in Indonesia, Boeing Co, had immediately wiped out about 12 percent of market capitalization, while a similar incident would likely to take place when US market opens on Monday (March 11th) morning.
Boeing Co. ended Friday’s (March 8th) market 18 percent higher (at $422.54, listed in NYSE) than October 29th low following the air crush off the coast of Indonesia.